Resolution 692 (1991)
of 20 May 1991

The Security Council,

Recalling its resolutions 674 (1990) of 29 October 1990, 686
(1991) of 2 March 1991 and 687 (1991) of 3 April 1991
concerning the liability of Iraq, without prejudice to its debts
and obligations arising prior to 2 August 1990, for any direct
loss, damage, including environmental damage and the
depletion of natural resources, or injury to foreign Governments, nationals and corporations as a result of Iraq’s unlawful
invasion and occupation of Kuwait,

Taking note of the report submitted by the Secretary-General on 2 May 1991 pursuant to paragraph 19 of resolution
687 (1991), 82

Acting under Chapter VII of the Charter of the United
Nations,

1. Expresses its appreciation to the Secretary-General for
his report of 2 May 1991; 82

2. Welcomes the fact that the Secretary-General will now
undertake the appropriate consultations requested by paragraph
19 of resolution 687 (1991) so that he will be in a position to
recommend to the Council for decision as soon as possible the
figure which the level of Iraq’s contribution to the United
Nations Compensation Fund will not exceed;

3. Decides to establish the Fund and the United Nations
Compensation Commission referred to in paragraph 18 of
resolution 687 (1991) in accordance with section I of the
Secretary-General’s report, and decides also that the Governing
Council of the Commission will be located at the United
Nations Office at Geneva and that the Governing Council may
decide whether some of the activities of the Commission should
be carried out elsewhere;

4. Requests the Secretary-General to take the actions
necessary to implement paragraphs 2 and 3 in consultation with
the members of the Governing Council;

5. Directs the Governing Council to proceed in an
expeditious manner to implement the provisions of section E of
resolution 687 (1991), taking into account the recommendations
in section IT of the Secretary-General’s report;

6. Decides that the requirement for Iraqi contributions
will apply in the manner to be prescribed by the Governing
Council with respect to all Iraqi petroleum and petroleum
products exported from Iraq after 3 April 1991 as well as such
petroleum and petroleum products exported earlier but not
delivered or not paid for as a specific result of the prohibitions
contained in resolution 661 (1990) of 6 August 1990;

7. Requests the Governing Council to report as soon as
possible on the actions it has taken with regard to the mechanisms for determining the appropriate level of Iraq’s contribution
to the Fund and the arrangements for ensuring that payments
are made to the Fund, so that the Security Council can give its
approval in accordance with paragraph 22 of resolution 687
(1991);

8. Requests also that all States and international organizations cooperate with the decisions of the Governing Council
taken pursuant to paragraph 5, and further requests that the
Governing Council keep the Security Council informed on this
matter;

9. Decides that, if the Governing Council notifies the
Security Council that Iraq has failed to carry out decisions of
the Governing Council taken pursuant to paragraph 5, the
Security Council intends to retain or to take action to reimpose
the prohibition against the import of petroleum and petroleum
products originating in Iraq and financial transactions related
thereto;

10. Decides also to remain seized of this matter, and
requests the Governing Council to submit periodic reports to
the Secretary-General and the Security Council.

Adopted at the 2987th meeting by 14
votes to none, with 1 abstention (Cuba).
