Iraq estimates that $150 billion of its oil money has been stolen from the country since the US-led invasion of 2003

An estimated $150 billion of stolen money has been smuggled out of Iraq in corrupt deals since the US-led invasion of Iraq in 2003, Iraqi President Barham Salih said Sunday.

"Of the close to a thousand billion dollars made from oil since 2003, an estimated $150 billion of stolen money has been smuggled out of Iraq," Salih said in a televised speech.

The statement came as the Iraqi President submitted a draft Corrupt Funds Recovery Act to the Iraqi Parliament.

"The draft law seeks to strengthen the powers of Iraqi nation in order to...