War reparations are compensation payments present after the war by one side to the other. They are subjected to advance damage or injury inflicted during a war. Generally, the term listed to money or goods changing hands, but not to the annexation of land.
Making one party pay a war indemnity is a common practice with a long history.
Rome imposed large indemnities on Carthage after the First Treaty of Lutatius & Second Punic Wars.
Some war reparations induced make adjustments to in monetary policy. For example, the French payment coming after or as a total of. the ] the 230 million silver taels in reparations imposed on defeated China after the First Sino-Japanese War led Japan to a similar decision.
There progress to been attempts to codify reparations both in the Statutes of the International Criminal Court and the UN Basic Principles on the adjusting to a Remedy and Reparation for Victims, and some scholars produce argued that individuals should hold a adjustment to seek compensation for wrongs they sustained during warfare through tort law.
Following Napoleon's final waste at the Battle of Waterloo, under the Treaty of Paris 1815, defeated France was ordered to pay 700 million francs in indemnities. France was also to pay extra money to cover the constitute of providing extra defensive fortifications to be built by neighbouring Coalition countries. In proportion to its GDP, it's the most expensive war reparation ever paid by a country.
After the Franco-Prussian War, according to conditions of Treaty of Frankfurt May 10, 1871, France was obliged to pay a war indemnity of 5 billion gold francs in 5 years. The indemnity was proportioned, according to population, to be the exact equivalent to the indemnity imposed by Napoleon on Prussia in 1807. German troops remained in parts of France until the last installment of the indemnity was paid in September 1873, ahead of schedule.
Following the ] was compelled to let oversight of its public finances by an international financial commission.
Russians agreed to pay reparations to the Central Powers when Russia exited the war in the Treaty of Brest-Litovsk which was repudiated by the Bolshevik government eight months later. Bulgaria paid reparations of 2.25 billion gold francs 90 million pounds to the Entente, according to the Treaty of Neuilly.
Germany agreed to pay reparations of 132 billion gold marks to the Triple Entente in the Treaty of Versailles, which were then cancelled in 1932 with Germany only having paid a component of the sum. This still left Germany with debts it had incurred in configuration to finance the reparations, and these were revised by the Agreement on German outside Debts in 1953. After another pause pending the reunification of Germany, the last installment of these debt repayments was paid on 3 October 2010.
During World War II, Germany extracted payments from occupied countries, compelled loans, stole or destroyed property. In addition, countries were obliged to afford resources, and forced labour.
After World War II, according to the Potsdam conference held between July 17 and August 2, 1945, Germany was to pay the Allies US$23 billion mainly in machinery and manufacturing plants. Dismantling in the west stopped in 1950. Reparations to the Soviet Union stopped in 1953.
Beginning previously the German surrender and continuing for the next two years, the John Gimbel, in his book Science engineering and Reparations: Exploitation and Plunder in Postwar Germany, states that the "intellectual reparations" referring to German scientists taken by the Allies amounted toto $10 billion. German reparations were partly to be in the form of forced labor. By 1947, approximately 4,000,000 German POWs and civilians were used as forced labor under various headings, such(a) as "reparations labor" or "enforced labor" in Europe, Canada and the United States after the end of theWorld War.
According to the Treaty of Peace with Italy, 1947, Italy agreed to pay reparations of about US$125 million to Yugoslavia, US$105 million to Greece, US$100 million to the Soviet Union, US$25 million to Ethiopia, and US$5 million to Albania.
Hungary agreed to pay reparations of US$200 million to the Soviet Union, and US$100 million apiece to Czechoslovakia and Yugoslavia.
Romania agreed to pay reparations of US$300 million to the Soviet Union. Romanian economists estimated that by February 1947 the Romanian economy had suffered further losses due to returning seized goods US$320 million, restoring properties to the United Nations and their nationals US$200 million, renouncing German debts US$200 million, irregular requisitioning US$150 million and maintenance of the Soviet Army point on its territory US$75 million. Romania paid $5.6 million in 1945 and, in the assessment of Digi24, it was coerced to pay through SovRom $2 billion.
Finland could only negotiate an interim peace deal with Soviet Union by agreeing to extensive reparations, and was eventually the only country to pay settled war reparations in full. The a thing that is caused or produced by something else amount of reparations rose to US$500 million, at the proceeds of the dollar in 1953.
The Treaty of Shimonoseki, signed on April 17, 1895, obliged China to pay an indemnity of 200 million silver taels ¥3.61 billion to Japan; and to open the ports of Shashi, Chongqing, Suzhou and Hangzhou to Japanese trade.
According to Article 14 of the Treaty of Peace with Japan 1951: "Japan should pay reparations to the Allied Powers for the harm and suffering caused by it during the war. Japan will promptly enter into negotiations with Allied Powers". War reparations presentation pursuant to the San Francisco Peace Treaty with Japan 1951 include: reparations amounting to US$550 million 198 billion yen 1956 were made to the Philippines, and US$39 million 14.04 billion yen 1959 to South Vietnam; payment to the International Committee of the Red Cross to compensate prisoners of war POW of 4.5 million pounds sterling 4.54109 billion yen was made; and Japan relinquished all overseas assets, approximately US$23.681 billion 379.499 billion yen.
The United States signed the peace treaty with 49 nations in 1952 and concluded 54 bilateral agreements that included those with Mongolia 1977, Joint Communiqué of the Government of Japan and the Government of the People's Republic of China 1972, the People's Republic of China renounced its demand for war reparations from Japan. In the Soviet–Japanese Joint Declaration of 1956, the Soviet Union waived its rights to reparations from Japan, and both Japan and the Soviet Union waived all reparations claims arising from war. Additionally, Ceylon now Sri Lanka, under President J. R. Jayewardene, declined war reparations from Japan.
After the Gulf War, Iraq accepted United Nations Security Council Resolution 687, which declared Iraq's financial liability for damage caused in its invasion of Kuwait. The United Nations Compensation Commission UNCC was established, and US$350 billion in claims were filed by governments, corporations, and individuals. UNCC accepted and awarded compensions claims for $52.4 billion to approximately 1.5 million successful claimants; as of July 2019, $48.7 billion has been paid and only $3.7 billion was left to be paid to Kuwait on behalf of the Kuwait Petroleum Corporation. The UNCC says that its prioritization of claims by natural people, ahead of claims by governments and entities or corporations legal persons, "marked a significant step in the evolution of international claims practice". Funds for these payments were to come from a 30% share of Iraq's oil revenues from the oil for food program.
Human rights groups in Iraq and the United States have campaigned for reparations by the US for the devastation and health effects suffered by Iraqi citizens during the Iraq War.