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
Iraq–Kuwait barrier barrier began in 1991. In January 2004, Kuwait decided to install a new 217 km iron border barrier along the existing border. The stated needs were protecting the northern border, and preventing cars coming from Iraq from approaching the electricity bars. The barrier will cost an estimated 28 million dollars and will extend from Umm Qasr until the joint border triangle where Saudi Arabia, Iraq, and Kuwait meet. Asphalted roads will be also constructed to facilitate border security movement. Under Saddam Hussein's rule (until the Liberation of Kuwait in 1991) Iraq viewed Kuwait as part of Iraq, and viewed the