CoI announced today that Iraq was able to recover about (12.000.000) euros from Spain, indicating that these sums represent the value of oil shipments supplied by the Iraqi Ministry of Oil to a Spanish company in 1988.

CoI’s Office of Extradition indicated that its efforts in cooperation with the technical team supporting the recovery of Iraq`s funds abroad led to recovering an amount of (11.915.440) euros worth of oil shipments supplied from Iraq to Spain under the Iraqi-Spanish agreement the commodity item signed between the two countries in 1988; knowingly, those funds were frozen under UN Security Council resolutions.

The Office explained that the details of the recovery file completed by CoI indicates that the total funds in the trust of the Spanish side were determined as well as their return after studying the details of all the file, pointing out that a memorandum of understanding was signed between the Iraqi and Spanish governments provided for the recovery of these funds in the form of contracts for the Ministry of Industry and Minerals.

Noteworthy to mention that CoI had announced in October last year that its efforts had resulted - in cooperation with the technical support team to recover Iraq`s money abroad, which includes the Office of the Prime Minister and the Ministries of Foreign Affairs, Justice and Oil, in addition to the General Prosecution, the Supreme National Authority for Accountability and Justice and the National Intelligence Service – in the recovery of funds belonging to the former regime were deposited in Jordanian and Lebanese banks.