President Barham Salih's "$150bn smuggled" statement and draft Law on Recovering the Proceeds of Corruption (2021)
On 23 May 2021 President Barham Salih said in a televised speech that of close to a trillion dollars earned from oil since 2003, an estimated $150bn of stolen money had been smuggled out of Iraq, and he submitted to parliament a draft "Law on Recovering the Proceeds of Corruption" to trace and recover funds abroad and prosecute those responsible, calling for an international coalition against corruption. The bill did not pass that parliament; later governments discussed similar legislation (from 2023 to 2024, according to Al-Aalem Al-Jadeed). The $150bn figure is an official estimate without published methodology.
- Period
- From 2003 to May 2021
- Sector
- Anti-corruption system and asset recoveryAsset recovery legislation
- Kind of case
- Official statement or estimate
- Jurisdiction
- Federal Iraq
How the money moved, according to the sources
Proceeds of corruption moved abroad through banks, cash smuggling and property purchases; recovery requires mutual legal assistance and asset-tracing tools.
What happened
Draft law not enacted; estimate widely cited.
Open questions
- Text of the 2021 draft law and any 2024 to 2026 successor legislation.
- Official asset-recovery results abroad (Integrity Commission recovery directorate).
People and companies
| Name | Role in the case | Legal status | Detail | As of |
|---|---|---|---|---|
| Barham Salih برهم صالح | President of Iraq (from 2018 to 2022) | Not charged as of the date of writing | Author of the estimate and bill. | 25 September 2026 |
Sources
- CNN (Mohammed Tawfeeq)23 May 2021Press reportTier D
Iraq estimates that $150 billion of its oil money has been stolen from the country since the US-led invasion of 2003
OriginalSalih said in a televised speech
- OCCRP (Lara Dihmis)24 May 2021Press reportTier D
Iraqi President: Corruption Liquidated At Least $150B Since 2003
Originalas he presented to the parliament a newly drafted law which seeks to “recover the proceeds of corruption,”