Iraq Estimates that $150 Billion of Its Oil Money Has Been Stolen from Country Since US-led Invasion of 2003

An estimated $150 billion of stolen money has been smuggled out of Iraq in corrupt deals since the US-led invasion of Iraq in 2003, Iraqi President Barham Salih said.

“Of the close to a thousand billion dollars made from oil since 2003, an estimated $150 billion of stolen money has been smuggled out of Iraq,” Salih said in a televised speech.

The statement came as the Iraqi President submitted a draft Corrupt Funds Recovery Act to the Iraqi Parliament.

“The draft law seeks to strengthen the powers of Iraqi nation in order to recover money stolen in corrupt deals, to hold corrupt people accountable and bring them to justice,” according to Salih.

He urged Iraqi lawmakers to discuss and approve the proposed legislation “to help curb this dangerous scourge that has deprived our people of enjoying the wealth of their country for many years.”

Source: CNN