Invasion of Kuwait their retreat. In early 1990 Iraq was accusing Kuwait of stealing Iraqi petroleum through slant drilling, although some Iraqi sources indicated Saddam Hussein's decision to attack Kuwait was made a few months before the actual invasion. Some feel there were several reasons for the Iraqi move, including Iraq's inability to pay the more than US$14 billion that it had borrowed to finance the Iran–Iraq War, and Kuwaiti high petroleum production levels which kept revenues down for Iraq. The invasion started on 2 August 1990, and within two days most of the Kuwait Armed Forces were either overrun by the Iraqi
Kuwait the stock market crash. In 1990, Kuwait was invaded, and later annexed, by Saddam's Iraq. The Iraqi occupation of Kuwait came to an end in 1991 after military intervention by a military coalition led by the United States. Kuwait is a major non-NATO ally of the United States. It is also a major ally of ASEAN, while maintaining a strong relationship with China. Kuwait is a constitutional sovereign state with a semi-democratic political system. Kuwait has a high-income economy backed by the world's sixth largest oil reserves. The Kuwaiti dinar is the highest valued currency in the world. According to