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
2003 invasion of Iraq Resolution 678 has not been rescinded or nullified by succeeding resolutions and Iraq was not alleged after 1991 to invade Kuwait or to threaten do so. Resolution 1441 was most prominent during the run up to the war and formed the main backdrop for Secretary of State Colin Powell's address to the Security Council one month before the invasion. According to an independent commission of inquiry set up by the government of the Netherlands, UN resolution 1441 "cannot reasonably be interpreted (as the Dutch government did) as authorising individual member states to use military force to compel Iraq to comply