From the time Kuwait has been released by the British, The government of Iraq found Kuwait to be promising because of the discovery of large oil reserves of the country. In fact, on 1952, the country became the largest exporter of oil in the Persian Gulf Region. Being one of the wealthiest regions in the Arabian subcontinent, Kuwait’s economy sky rocketed and attracted several opportunities from foreign countries.
However, it was on 1982 that Kuwait gone through a short period of deterioration in economic standing and prices in oil all went down. During the Iran-Iraq war, the Kuwaiti market finally recovered and even managed to fund Iraq for eight years on its battle against Iran. But conflict started to develop between Iraq and Kuwait when the latter refused to pardon the former on its billion dollar accountability.
Disagreement developed between the two countries and on 1990, Iraq finally declared war and invaded Kuwait. Because of this, the Persian Gulf War was established which participated by over 34 nations who wished to dismiss the Iraqi rule over Kuwait.
And finally, on February 26, 1991, Iraq’s authority over Kuwait was abolished declaring the country as independent and on full sovereignty.