13 hours ago
Iraq ramps up effort to recover Saddam-era assets abroad
Shafaq News – Baghdad
Iraq is stepping up efforts to recover state funds and properties held overseas, particularly those still controlled by affiliates of the former Baathist regime, a government source told Shafaq News on Thursday.
The recovery campaign, led in coordination with the Foreign Ministry, relies on legal documentation to facilitate repatriation. In a recent case, authorities recovered nearly $160M from a former intelligence official through formal procedures, though many of the assets were transferred abroad in the final years of Saddam Hussein's rule, as senior officials fled following the 2003 US-led invasion.
Officials estimate that significant financial and real estate holdings remain under the control of regime loyalists, however, additional recoveries, including high-value properties in Europe, are anticipated in the coming phase.
The effort is guided by official maps and registries detailing the distribution of Iraqi assets abroad. Authorities aim to resolve the entire portfolio and restore all identified properties to government control.
Mohammed Ali al-Lami, head of Iraq's Asset Recovery Fund, urged faster processing of case files and called on the Foreign Ministry to accelerate their submission to international authorities within legal deadlines.
The fund, tasked with reclaiming Iraq's stolen wealth, works in coordination with foreign governments and international legal entities.
