1990 oil price shock and prices began to fall. On August 2, 1990, The Republic of Iraq invaded the State of Kuwait, leading to a 7-month occupation of Kuwait and an eventual U.S.-led military intervention. While Iraq officially claimed Kuwait was stealing its oil via slant drilling, its true motives were more complicated and less clear. At the time of the invasion, Iraq owed Kuwait $14 billion of outstanding debt that Kuwait had loaned it during the 1980–1988 Iran–Iraq War. In addition, Iraq felt Kuwait was overproducing oil, lowering prices and hurting Iraqi oil profits in a time of financial stress. In the buildup
Gulf and Kuwait Medal Gulf and Kuwait Medal The Gulf and Kuwait Medal (, or "Médaille du Golfe et du Kuwait") was a campaign medal created in 1990 by the Canadian monarch-in-Council to recognize members of the Canadian Forces who had directly participated in the Gulf War, either in the hostilities themselves or during the troop build-up prior to the invasion of Iraq. It is, within the Canadian system of honours, the third highest of the war and operational service medals. Designed by Bruce W. Beatty, the Gulf and Kuwait Medal is in the form of a diameter rhodium plated tombac disc with, on