SAUDI ARABIA/IRAQ/KUWAIT: IRAQ RETURNS TO KUWAIT GOLD BULLION WORTH MILLIONS OF DOLLARS WHICH IT STOLE DURING ITS OCCUPATION OF THE EMIRATE

Record ID: 644488

  • Title: SAUDI ARABIA/IRAQ/KUWAIT: IRAQ RETURNS TO KUWAIT GOLD BULLION WORTH MILLIONS OF DOLLARS WHICH IT STOLE DURING ITS OCCUPATION OF THE EMIRATE
  • Date: 7th August 1991
  • Summary: ARAR, SAUDI ARABIA/IRAQ BORDER (AUGUST 6, 1991 ) (REUTERS - NIGEL SEQUERIA) GV/SVS IRAQI CONVOY ARRIVING AT BORDER ACCOMPANIED BY A UNITED NATIONS VEHICLE AND SURROUNDED BY ARMED GUARDS. (3 SHOTS) SVS/CU DOOR OF TRUCK BEING OPENED TO SHOW GOLD IN BOXES AND THEN DOOR BEING CLOSED AGAIN. (4 SHOTS) GV PAN UN JEEP AND TRUCK CROSS BORDER AND MOVING DOWN ROAD KUWAIT CITY, (AUGUST 5 1991,) (REUTERS) SVS SHEIK SALIM ABDUL AZIZ AL SABAH SPEAKING ( SOUNDBITE ENGLISH) TRANSCRIPT SEQ. 4: QUESTION: "THE VALUE OF THE BARS...SIX HUNDRED?" SHEIK SALIM ABDUL AZIZ AL SABAH: "WELL IT DEPENDS ON THE MARKET TRADE, BUT WE CAN SAY BETWEEN SIX HUNDRED AND SEVEN HUNDRED MILLION DOLLARS. WE ARE HAPPY TO RECEIVE BACK OUR GOLD, IN BARS, AS WELL AS NOT ONLY THE GOLD. THERE IS THE GOLD AND THE REMAINING KUWAITI BANK NOTES THAT HAD BEEN LOOTED AND OTHER GOLDEN AND SILVER COMMEMORATIVE COINS." (3 SHOTS)
  • Embargoed: 22nd August 1991 13:00
  • Keywords:
  • Location: ARAR, SAUDI ARABIA/IRAQ BORDER, AND KUWAIT CITY, KUWAIT
  • City:
  • Country: Saudi Arabia Iraq Kuwait
  • Topics: Crime / Law Enforcement,Conflict,International Relations,Politics
  • Reuters ID: LVA59LX39D9GO8F99WWLBE9BCWS7
  • Story Text: Iraq has begun to return gold bars worth millions of United States dollars which were looted from Kuwait's Central Bank during its sever month occupation of the emirate.

    On Tuesday (August 6) a convoy loaded with bullion arrived at the remote Saudi border post of Arar. In June, Kuwait and Iraq agreed that the quantity of missing gold came to 3,216 bars.

    The governor of Kuwait's Central Bank, Sheik Salem Abdul Aziz al-Sabah, said on August 5 that bank notes, and commemorative coins would also be returned.

    There has been speculation that Kuwait, needing cash for reconstruction, might sell some of the gold, a move that could affect bullion markets.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2014. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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