عربي English Türkçe اردو فارسى
Logo
Latest News
Arab World

Iraq Takes New Legal Measures to Recover Looted Funds

Iraqi President Barham Salih announced a mechanism to retrieve stolen state money (AFP)
Iraqi President Barham Salih announced a mechanism to retrieve stolen state money (AFP)
TT
TT

Iraq Takes New Legal Measures to Recover Looted Funds

Iraqi President Barham Salih announced a mechanism to retrieve stolen state money (AFP)
Iraqi President Barham Salih announced a mechanism to retrieve stolen state money (AFP)

Iraqi President Barham Salih revealed on Wednesday new legal measures to recover the looted funds from Iraq.

Since 2003, a year after the ouster of Saddam Hussein, almost $250 billion of Iraqi public funds has vanished.

In a televised interview on Wednesday, Salih said that the presidency intends to introduce a code of conduct to put in place mechanisms to recover the stolen money, which may have gone abroad.

"Corruption is dangerous and needs serious mechanisms to tackle it," he added, noting that despite major challenges, a number of rulings took place regarding corruption cases before.

Salih stressed that striking financial corruption was essential to establishing security.

He further highlighted the importance of holding fair elections in which Iraqis feel reassured that their "votes are protected and their decisions are respected."

His announcement came as the Supreme Council, which was formed by Iraqi Prime Minister Mustafa Al-Kadhimi, is still exerting efforts to combat corruption.

While it charged several officials in corruption cases, the council is investigating with others who worked in various Iraqi institutions and ministries.

In this regard, economist Basem Jamil Antoun told Asharq Al-Awsat newspaper that the new legal measures adopt certain criteria to assess the professional behavior of concerned parties.

Regarding means to recover looted funds, Antoun said that international and local efforts are needed to recover funds smuggled abroad.

Part of the funds vanished under Saddam’s rule, while the other part is linked to the post-2003 phase, he noted.

Antoun said that the stolen funds are estimated at $250 billion, however, he noted that there are no exact figures.

Most Viewed

 
 
Arab World

Yemen Seeks Resumption of US Investments in Energy Sector

Al-Alimi during his meeting with the delegation from Hunt Oil Company (Saba)
Al-Alimi during his meeting with the delegation from Hunt Oil Company (Saba)
TT
TT

Yemen Seeks Resumption of US Investments in Energy Sector

Al-Alimi during his meeting with the delegation from Hunt Oil Company (Saba)
Al-Alimi during his meeting with the delegation from Hunt Oil Company (Saba)

The head of Yemen’s Presidential Leadership Council (PLC), Rashad Al-Alimi, has met with a delegation from the American Hunt Oil Company, headed by the company’s Chief Executive Officer, Hunter Hunt.

The meeting on Sunday reviewed opportunities for partnership between the Yemeni government and Hunt Oil in the exploration, production, and export of oil and gas. It also discussed prospects for the company to resume its investments in Yemen in support of the country’s economic recovery and energy security.

Al-Alimi was briefed by the delegation on the company’s current operations, future plans, and promising investment opportunities in Yemen’s oil sector, building on its long-standing partnership with the Yemeni government.

The PLC President praised Hunt Oil’s pioneering role in establishing Yemen’s petroleum sector, including the discovery of the country’s first commercially viable oil reserves, its contributions to developing oil infrastructure, training national personnel, and its role as a key partner in the Yemen LNG project.

He said these contributions would remain a source of appreciation for both the government and the Yemeni people.

Al-Alimi also outlined the economic, financial, and administrative reforms being implemented by the government, particularly in the oil and gas sector.

He highlighted efforts to improve the investment climate, strengthen transparency and governance, and provide the necessary guarantees for the return of foreign companies across various sectors.

He commended Saudi support to Yemen’s economy, describing it as a key pillar for enhancing stability, advancing economic reform, and restoring investor confidence.

The PLC President reaffirmed the state’s commitment to providing all necessary support and facilities for investors. He said the government would work with regional and international partners to secure vital infrastructure and create conditions for the resumption of production activities.

He added that improving living standards and security across the country remains a top priority for the Yemeni government.

Arab World

Syria, Iraq Agree to Expand Cooperation in Energy, Security and Economy

Syrian President Ahmed al-Sharaa receives Iraqi FM Fuad Hussein in Damascus on Monday. (SANA)
Syrian President Ahmed al-Sharaa receives Iraqi FM Fuad Hussein in Damascus on Monday. (SANA)
TT
TT

Syria, Iraq Agree to Expand Cooperation in Energy, Security and Economy

Syrian President Ahmed al-Sharaa receives Iraqi FM Fuad Hussein in Damascus on Monday. (SANA)
Syrian President Ahmed al-Sharaa receives Iraqi FM Fuad Hussein in Damascus on Monday. (SANA)

Iraqi Foreign Minister Fuad Hussein visited Damascus on Monday on his first trip since there since the ouster of Bashar al-Assad's regime in December 2024.

He held talks with President Ahmed al-Sharaa and his Syrian counterpart Asaad al-Shaibani.

The meeting with Sharaa focused on bilateral relations and ways to expand cooperation across various sectors, reported Syria’s state news agency SANA.

The two sides also discussed regional and international developments and stressed the importance of strengthening coordination and consultation between Syria and Iraq in addressing shared challenges.

Talks with Shaibani focused on practical mechanisms to strengthen bilateral relations and advance mutual cooperation across various sectors.

The FMs agreed to establish a high committee for joint coordination, co-chaired by both ministers, to ensure the consistent follow-up and execution of outcomes stemming from bilateral cooperation while streamlining joint initiatives.

The discussions also focused on energy infrastructure, specifically looking into mechanisms for oil transit and grid integration, alongside a project to rehabilitate oil pipelines extending from Iraq to Syria.

They also addressed frameworks for strategic cooperation in the sectors of water management and agriculture, which aims to boost mutual food security, stimulate economic integration, and serve shared bilateral interests.

They explored avenues to upgrade security coordination and intelligence sharing, bolstering regional stability and supporting collaborative efforts to confront mutual security challenges.

Arab World

UN Chief Slams ‘Relentless’ Israeli Settlement Expansion

United Nations Secretary-General Antonio Guterres delivers a statement during a media conference at the EU summit in Brussels, March 19, 2026. (AP)
United Nations Secretary-General Antonio Guterres delivers a statement during a media conference at the EU summit in Brussels, March 19, 2026. (AP)
TT
TT

UN Chief Slams ‘Relentless’ Israeli Settlement Expansion

United Nations Secretary-General Antonio Guterres delivers a statement during a media conference at the EU summit in Brussels, March 19, 2026. (AP)
United Nations Secretary-General Antonio Guterres delivers a statement during a media conference at the EU summit in Brussels, March 19, 2026. (AP)

UN chief Antonio Guterres has condemned the "relentless" expansion of Israeli settlements in the West Bank, saying in a report seen Monday by AFP they are contributing to the territory's worst displacement crisis since 1967.

The secretary-general, in a quarterly report on the West Bank, said an increase in settler outposts was leading to an upsurge in violence and restricting Palestinians' access to their land.

"These developments fuel tensions, further entrench the unlawful Israeli occupation, undermine the right of the Palestinian people to self-determination, and threaten the viability of a fully independent, contiguous, and sovereign Palestinian State," Guterres said.

He specifically warned against Israeli plans to develop in the so-called E1 area of the West Bank, saying new settlements "would effectively sever the connection between the northern and southern West Bank."

"As such, it would have severe consequences for the territorial contiguity of the Occupied Palestinian Territory and present an existential threat to the two-state solution," Guterres said.

The report also denounced impunity towards violence by Israeli settlers, pointing out it often occurs in the presence of -- or with the support of -- Israeli security forces.

"Settler violence, access restrictions, demolitions and prolonged security operations have intensified in recent years, resulting in the largest displacement crisis in the West Bank since 1967," Guterres said.

In a joint statement ahead of a UN Security Council meeting on the West Bank, five European members of the council -- France, Britain, Greece, Latvia and Denmark -- condemned settlement activity.

"We call on the Israeli Government to end its expansion of settlements and administrative powers, ensure accountability for settler violence and investigate allegations against Israeli forces," France's UN envoy Jerome Bonnafont said.