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
Republic of Kuwait decided to appeal to kinsfolk in Iraq, led by the knight of Arabs and the leader of their march, President Field Marshal Saddam Hussein, to agree that their sons should return to their large family, that Kuwait should return to the great Iraq—the mother homeland—and to achieve complete merger unity between Kuwait and Iraq." Hussein Ali was then made Deputy Prime Minister of Iraq while Ali Hassan al-Majid was proclaimed Governor. The Turkish daily "Milliyet" reported Hussein in September 1990 saying to Bülent Ecevit that, "Kuwait is now ours, but we might have refrained from taking such a decision if