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
Sheikhdom of Kuwait border between Iraq and Kuwait is, I shall be glad if you will kindly give me this information." More, upon learning that al-Sabah claimed the outer green line of the Anglo-Ottoman Convention (4 April), would relay the information to Sir Percy. On 19 April, Sir Percy stated that the British government recognised the outer line of the Convention as the border between Iraq and Kuwait. This decision limited Iraq's access to the Persian Gulf at 58 km of mostly marshy and swampy coastline. As this would make it difficult for Iraq to become a naval power (the territory did not