HRC58 - Iceland statement - Adoption of A/HRC/58/L.16: The negative impact of the non-repatriation of funds of illicit origin
Human Rights Council – 58th Session
Explanation of vote on draft resolution L.16
The negative impact of the non-repatriation of funds of illicit origin to the countries of origin on the enjoyment of human rights, and the importance of improving international cooperation
Statement by Iceland
2 April 2025
Mr. President,
Corruption and associated illicit financial flows bring a challenge to many societies, including by weakening institutions and undermining the rule of law.
Iceland has taken numerous measures to strengthen its framework in regard to illict funds. We remain committed to fighting illicit financial flows and to support asset recovery.
However, we remain concerned about elements in Draft Resolution L.16 that relate to the lack of proper use of already existing instruments and weak operational connection to the promotion of human rights. It is Iceland’s view that such issues related to asset recovery and financial flows should rather be addressed by other UN entities, such as the General Assembly, the United Nations Convention Against Corruption (UNCAC), and the Working Group on Asset Recovery in Vienna.
In addition, the text in draft resolution L.16 would benefit, in our view, from a more balanced approach, including addressing the root causes of corruption, embezzlement of public funds and the transnational organized crime and their broader effects.
For these reasons Iceland has decided to abstain on draft resolution L.16 on The negative impact of the non-repatriation of funds of illicit origin to the countries of origin on the enjoyment of human rights, and the importance of improving international cooperation.
I thank you.