Can Iraq recover billions in stolen assets abroad?
Shafaq News- Baghdad
As Iraq expands its anti-corruption campaign, the government's focus has shifted beyond prosecuting suspects at home to recovering public funds transferred abroad, a process officials, who spoke to Shafaq News, describe as a national priority alongside holding those responsible accountable.
The renewed focus follows recent announcements by Iraq's Supreme Judicial Council, which said investigations into several major corruption cases remain ongoing, including the seizure of large sums of cash linked to former Deputy Oil Minister for Refining Affairs Adnan al-Jumaili, who was arrested last May, and opened the door to the Dawn Crackdown operation.
The council also had outlined a legal mechanism that would allow authorities, within the limits of Iraqi law, to reduce certain legal measures or penalties for suspects who voluntarily return embezzled public funds.
These developments coincide with an announcement by the Ministry of Justice last week that it had recovered more than $25 million in Iraqi assets over the past two years. “Efforts are continuing to trace overseas funds, real estate, and bank accounts in coordination with the Federal Integrity Commission and international partners,” it stated.
With part of Iraq's illicit assets believed to be held abroad, questions remain over the legal and diplomatic tools available to al-Zaidi's government to recover the funds, particularly when suspects reside outside Iraq or have investments in foreign jurisdictions.
Read more: Iraq anti-corruption sweep: What we know so far
Saqr al-Mohammadawi, a member of the Iraqi parliament's Security and Defense Committee, described asset recovery as a national priority “because of its direct impact on protecting public funds and strengthening public confidence in state institutions.”
Speaking to Shafaq News, al-Mohammadawi urged government institutions to intensify their legal and diplomatic efforts, in cooperation with foreign governments and international organizations, to trace and recover illicit assets in accordance with applicable laws.
He also called for greater transparency in handling the issue by informing the public about the measures being taken and the results achieved while ensuring that all corruption suspects are held accountable without exception.
Al-Mohammadawi said the parliamentary committee is monitoring ongoing corruption investigations, stressing that recovering stolen assets "is not merely a financial objective but a national entitlement that supports development, strengthens the economy, and helps provide essential public services."
Political and legal researcher Amir al-Daami affirmed that Iraq has international legal mechanisms that can be used to recover funds and assets held abroad.
In an interview with Shafaq News, he said the agreements signed between Iraq and other countries facilitate asset recovery, particularly after the Iraqi judiciary signed a cooperation agreement with the European Union Agency for Criminal Justice Cooperation (Eurojust) to exchange information on suspects and illicit assets.
Those mechanisms, according to al-Daami, enable Iraq to trace and recover transferred funds, and the international community, particularly the United States, supports Iraq's anti-corruption campaign, “which could strengthen cooperation on recovering assets and extraditing wanted individuals.”
“Recovering illicit assets requires more than domestic court rulings and depends on an integrated system of judicial and diplomatic cooperation,” Legal adviser Saad al-Bukhati told Shafaq News, explaining that the 2003 United Nations Convention against Corruption, to which Iraq is a party, provides the principal international legal framework for asset recovery by requiring member states to provide mutual legal assistance, freeze bank accounts, confiscate assets, and return proceeds proven to have originated from corruption offenses.
He highlighted that the process begins with financial investigations inside Iraq to identify the proceeds of crime, followed by judicial orders to freeze or confiscate assets. Authorities then submit formal requests to the countries where the assets are located, supported by evidence and court decisions under bilateral or multilateral agreements or the principle of reciprocity.
Al-Bukhati also called on the government to strengthen cooperation with the International Criminal Police Organization (INTERPOL) and make greater use of the Stolen Asset Recovery Initiative (StAR), a joint program of the United Nations and the World Bank.
Iraq should establish specialized national teams comprising judges, prosecutors, financial experts, and anti-money laundering investigators “to trace cross-border financial flows and uncover shell companies and accounts used to conceal illicit assets,” he urged, clarifying that the government's success in this file should not be measured by the number of court rulings issued, but by its ability to build an integrated system that combines strong legislation, an independent judiciary, effective oversight institutions, and meaningful international cooperation.
