e war of Sanctions had just begun against Iraq. All countries in the United Nations Security Council (UNSCOM) unilaterally approved the Sanctions that were brought upon Iraq. These Sanctions have only added hardships to the already extreme perils of life in Iraq. Sanctions punish the wrong people in the end and harm innocent lives.
The Gulf war, like any other war, had an economic impact on the countries involved. This war in particular effected countries inside and outside the Gulf region. Damage was made to many countries including Jordan, Egypt, Sudan, Yemen, and Morocco. Non Arab countries also felt the impact of this war. Countries such as Turkey, Bangladesh, Pakistan, India and Sri Lanka were among those outside the Gulf Region to be affected by this war.
This war caused a disruption in trade, a decline in remittances. One major impact of this war was the reallocation of people moving from Kuwait to other countries to avoid the war. This cost countries countless amounts of money, as they had to create jobs and places for these people to stay. In the Gulf region it is common for people to work in other countries and upon Iraq's take over of Kuwait many feared what was to come and returned back to their home lands. Egypt was the only country, which was affected by the lack of tourism. Egypt lost one third of its annual income from the Suez Canal as a result of the war since there was fear in the area.
When Iraq took over Kuwait it was determined to become a prominent oil producing country but when threats of an attack from other countries become a reality, Iraq went and burnt Kuwaiti Oil. This was a very dangerous move and hampered Agricultural Production.
When looking at the countries and money loses it is hard to imagine the amount of money which this war cost. Kuwait lost $240 billion (US) and Iraq lost $120 billion (US). It has been estimated that the Gulf Region alone lost $ 438 billion (US).
These loses...