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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    The European judiciary upholds the conviction of Total and Vitol for violating the “oil-for-food” pr

    Rocky
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    The European judiciary upholds the conviction of Total and Vitol for violating the “oil-for-food” pr Empty The European judiciary upholds the conviction of Total and Vitol for violating the “oil-for-food” pr

    Post by Rocky Fri 13 Oct 2023, 5:05 am

    The European judiciary upholds the conviction of Total and Vitol for violating the “oil-for-food” program.




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    The European Court of Human Rights on Thursday upheld the convictions of Total and Vitol for bribing foreign government officials in violation of the United Nations' oil-for-food program on Iraq.
    France's Total and Switzerland's Vitol were sued in February 2016 in the appeal phase in Paris. They filed an appeal against the decision, which the court rejected on March 14, 2018.
    The two companies filed the case with the European Court of Human Rights, considering that French law is ambiguous in this regard.
    But in a ruling issued on Thursday, the European Court of Human Rights concluded that the law applicable at the date of the facts allowed the two companies to know that the payment of hidden commissions in the context of Iraqi oil trading operations, in violation of the “oil for food” program, could entail criminal liability.
    The court, which is based in the French city of Strasbourg, considered that there had been no violation of Article 7 of the Human Rights Convention, which stipulates that there is no crime and no punishment except by law.
    The "Oil for Food" program, which ran from 1996 to 2003, aimed to mitigate the effects of the strict embargo imposed by the United Nations on Iraqis after Iraq's invasion of Kuwait in 1990.
    The program allowed the regime of the late President Saddam Hussein to sell oil in limited quantities and under United Nations supervision in exchange for humanitarian and consumer goods.
    But Baghdad forced foreign companies participating in the program to pay an additional 10% fee - calculated as "transportation costs" or "after-sales service" - that went into the Iraqi regime's coffers.
    A United Nations investigation led by former US Federal Reserve Chairman Paul Volcker in 2005 reported that 2,200 companies from 66 countries participating in the program paid bribes totaling $1.8 billion to win deals. Among those companies are 180 French companies.
    The French judiciary fined Total 750,000 euros in 2016, which was the maximum possible at the time the violations were committed. Vitol was also fined 300,000 euros.


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