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Iraq invaded Kuwait in 1990 and caused damaged the oil fields of Kuwait. After this UNO imposed sanctions on Iraq and asked Iraq to withdraw from Kuwait. Iraq will have to pay $82 billion for the damaged it did in Kuwait in 1990.

Iraq has been suffering from a lot of war after effects and it is being helped by other countries to do repairs and get over the war after effects. Kuwait has been providing Iraq with the money for these repairs but it is expected that the next installment might be delayed.

A statement from the Office of the Deputy Prime Minister for Energy Hussain al-Shahristani, today, received by all of Iraq [where], copy it, that "al-Shahristani, received in his office this afternoon Kuwaiti ambassador to Baghdad, Ghassan Al-Zawawi, the two sides discussed ways to strengthen political and economic relations between the two countries brothers.

The frozen assets of Iraq in the foreign banks are under discussion for couple of months, especially after Chapter VII of United Nation. These frozen assets are $82 Billion and were freeze due to invasion of Kuwait by Iraq in 1990. People are not sure about these funds and most of them are consider as barren amount that will not be released to Iraq.

A major reason in the Iraqi dinar is the history of Kuwaiti Dinar. At the time of invasion by Iraq, the Kuwaiti Dinar was sold at 3000 Kuwaiti dinar against a US dollar. The Kuwait regained its currency value back in the international market. The present value of Kuwaiti dinar is $3.55 per Kuwaiti Dinar.

After the release from chapter vii, Iraq is looking to collect Iraqi dinar and receivables from different countries of the world that were frozen after invasion of Kuwait by Iraq in 1990. These funds were freeze in the different countries of the world as a result of sanctions imposed by United Nation on Iraq.

Iraq is now free from all the sanctions imposed by UNO after invasion of Kuwait in 1990. Now Iraq and its economy both are free and now they can grow in the world in the shorter period of time. Everything is not over and we will have to wait for the formation of new government.