Featured Extractive Industries

NGO: South Sudan’s Graft-ridden Gold Mining Threatens the Peace

By Sandrine Gagné-Acoulon, OCCRP, 6 April 2020 OCCRP — Family members of top government officials are involved in South-Sudan’s corrupt gold mining sector which is booming and threatening the fragile peace that ended the five-years-long civil war, warned a new report by The Sentry. The NGO was co-founded by… Read More

U.S. gives oil refiner Nynas more time to avoid Venezuela sanctions

The U.S. Treasury Department on Friday extended its authorization for companies to do business with Sweden’s Nynas, giving the oil refiner more time to restructure its ownership to avoid American sanctions on Venezuela. The department, in a notice on its website, extended the general license authorizing certain activities involving Nynas… Read More

Turkey’s State-Run Halkbank Pleads Not Guilty to Massive Sanctions Bust

Not even a pandemic’s relentless spread could stop the prosecution of Turkey’s state-run Halkbank, which pleaded not guilty Tuesday to a record-breaking money-laundering scheme. “First of all, welcome everybody,” said U.S. District Judge Richard Berman, greeting listeners across the globe who called in this morning for the extraordinary hearing. “We… Read More
30th March 2020
The highest-ranking judge in Venezuela — on par with the chief justice of the U.S. Supreme Court — doled out legal favors to obtain millions in bribes paid through Miami and foreign bank accounts that he spent on chartered private jets, expensive watches and other luxury goods in South Florida,… Read More
30th March 2020
AP — Russia’s Rosneft has transferred its assets in Venezuela to a company fully owned by Vladimir Putin’s government, a move apparently intended to shield Russia’s largest oil producer from U.S. sanctions while Moscow continues showing support for Venezuelan President Nicolás Maduro in the wake of a U.S. narcotics indictment. Read More
24th March 2020
A major operation across five regions of Peru has seen 47 prosecutors and 1,200 police officers arrest 18 people who, according to Peruvian authorities, were members of a criminal organization known as Los Topos (Spanish for “The Moles”), who focused on the illegal mining and trading of gold. Simultaneous raids… Read More
23rd March 2020
The U.S. quietly unsealed criminal cases against two former officials at Venezuela’s state oil monopoly this month as part of what American officials say is a new round of charges and sanctions against a Maduro government they accuse of systemic corruption, narcotrafficking and stealing billions of dollars in state funds. Read More
23rd March 2020
As Turkey grapples with the coronavirus pandemic, the March 17 arrest of Azeri-Turkish billionaire Mubariz Mansimov Gurbanoglu failed to draw the attention it deserves. Gurbanoglu was arrested on terrorism charges, part of what he alleges is a web of collusion between global energy giants and Turkish prosecutors. Gurbanoglu, 52, was a former ally… Read More
20th March 2020
The Trump administration this week sent a stark message to Iran in three new rounds of sanctions: The U.S. won’t ease its economic pressure campaign even as the coronavirus pandemic batters the country. The Trump administration, amid growing calls to ease its sanctions campaign, said it has no plans… Read More
17th March 2020
A Los Angeles businessman was convicted on Monday of a billion-dollar tax fraud scheme, after a lengthy trial featuring testimony about international money laundering and a Utah polygamist sect. Lev Aslan Dermen, who owned a fuel company that ran truck stops and gas stations, was found guilty by a federal… Read More
13th March 2020
The United States on Thursday imposed sanctions on another subsidiary of Rosneft, ramping up pressure on the Russian state oil giant that the Trump administration has said provides a financial lifeline to Venezuelan President Nicolas Maduro. The U.S. Treasury Department blacklisted TNK Trading International, a Swiss-based unit of Rosneft. Washington… Read More
11th March 2020
John Wood Group PLC has reserved $46 million to cover costs associated with possible settlements with U.S., Brazilian and Scottish authorities, the oil-field services company said. The settlements would resolve probes by five authorities in three countries, the Wood Group said in an annual investor report on Tuesday. The… Read More
11th March 2020
At least a quarter of Iran’s oil rigs are out of action as U.S. sanctions strangle the Islamic Republic’s vital oil industry, according to a Reuters review of financial documents and industry sources, dealing a potentially long-term blow to its oil industry. The lack of rig activity could damage the… Read More