Iraq estimates that $150 billion of its oil money has been stolen from the country since the US-led invasion of 2003



“Of the near a thousand billion {dollars} produced from oil since 2003, an estimated $150 billion of stolen cash has been smuggled out of Iraq,” Salih stated in a televised speech.

The assertion got here because the Iraqi President submitted a draft Corrupt Funds Restoration Act to the Iraqi Parliament.

“The draft legislation seeks to strengthen the powers of Iraqi nation with a purpose to get better cash stolen in corrupt offers, to carry corrupt individuals accountable and convey them to justice,” in keeping with Salih.

He urged Iraqi lawmakers to debate and approve the proposed laws “to assist curb this harmful scourge that has disadvantaged our individuals of having fun with the wealth of their nation for a few years.”

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Salih stated the stolen cash can be sufficient to considerably enhance Iraq’s funds.

In accordance with Salih, the laws would search to get better the misappropriated funds by means of the cooperation of different governments and in partnership with worldwide our bodies.

“Right here I reiterate Iraq’s name, which we’ve beforehand issued on the United Nations Common Meeting, for the formation of a global coalition to combat corruption alongside the traces of the worldwide coalition towards ISIS,” Salih stated.

Salih stated the problem of corruption isn’t any much less harmful than terrorism.


“Terrorism can solely be eradicated by draining its sources of funding primarily based on corruption cash as a political economic system of violent,” Salih added.

Since 2019, lots of of individuals have died in violent protests throughout Iraq towards authorities corruption, unemployment and a scarcity of fundamental providers, together with electrical energy and clear water, because the nation has failed to attain stability following a long time of sanctions and struggle.

The Biden administration is eying an eventual withdrawal of US troops from Iraq because the nation’s safety forces develop extra succesful and the specter of ISIS wanes, the 2 international locations introduced in a joint assertion in April.

The US at the moment has some 2,500 troops in Iraq targeted on the mission to defeat ISIS as a part of Operation Inherent Resolve, the worldwide coalition to defeat what stays of the ISIS caliphate that managed elements of Iraq and Syria.

The troops have now shifted to coaching and advisory duties, “thereby permitting the for the redeployment of any remaining forces from Iraq,” the joint US-Iraq assertion stated.

CNN’s Aqeel Najim in Baghdad contributed to this report.


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