Iraq will have access to the wider international liability and compensation regime after becoming the 122nd member state of the 1992 Fund Convention. Iraq has a small coastline but could be at risk of an oil spill from passing tanker traffic due to its proximity to the Persian Gulf and the Gulf’s significant role in the region’s oil trade.
The director of the International Oil Pollution Compensation Funds, Gaute Sivertsen, welcomed Iraq as the newest Member State, emphasising the importance of ratifying the 1992 Fund Convention and the significant increase in compensation available to individuals and entities in the event of a major oil pollution incident affecting the Member State.
The International Maritime Organization (IMO) has notified Gaute Sivertsen, that the Republic of Iraq deposited its instrument of accession to the 1992 Fund Convention on 5 August 2024.
The Convention will therefore enter into force for Iraq on 5 August 2025, bringing the total number of 1992 Fund Member States to 122 as of that date.
Iraq has been Party to the 1992 Civil Liability Convention since 2022, and with this latest accession will have access to the wider international liability and compensation regime.
To remind, the IOPC Funds are two intergovernmental organisations (the 1992 Fund and the Supplementary Fund) which provide compensation for oil pollution damage resulting from spills of persistent oil from tankers.
