WORLD


France's Total fined 750,000 euros over Iraq 'oil for food' graft

A+ A

Baku, February 26, AZERTAC

French energy giant Total (Other OTC: TTFNF - news) was ordered on appeal Friday to pay 750,000 euros for siphoning cash from the UN "oil-for-food" programme that aided sanctions-hit Iraq under Saddam Hussein, according to AFP.

The Swiss-based oil group Vitol was fined 300,000 euros ($330,000), on top of $17.5 million it has already been ordered to pay by a US court.

They were among more than a dozen individuals and companies that had been cleared of corruption in 2013 after an eight-year investigation.

Among those cleared was France's former interior minister Charles Pasqua, who died last June, aged 88.

The convictions Friday were for embezzling money from the $64 billion (54 billion euro) UN programme that allowed Iraq, then under crippling international sanctions, to sell limited quantities of oil to buy humanitarian supplies between 1996 and 2003.

© Content from this site must be hyperlinked when used.

FEEDBACK

Fields with * are required.

Please enter the letters as they are shown in the image above.
Letters are not case-sensitive.