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Deutsche Bank has agreed to pay more than $130m to end a US government investigation into violations of the Foreign Corrupt Practices Act (FCPA) in 2009-16, involving bribes paid to individuals in Saudi Arabia and the UAE to secure contracts. Deutsche Bank admitted to the US authorities that it paid bribes of at least $1.1m to a British Virgin Islands company owned by a Saudi business development consultant who was the wife of a client.
Issue 1118 - 21 January 2021
Saudi Arabia, United Arab Emirates (UAE)
Finance & business
Iranian forces on 4 January hijacked the South Korean tanker Hankuk Chemi, in an apparent effort to pressurise Seoul into releasing some $7bn in oil-related assets that are frozen for breaching US sanctions. It came just a few days after a thwarted mine attack against the Liberian-flagged tanker MT Pola off the Iraqi port of Basra, following a campaign of intensified mining attacks on tankers in the Red Sea, most recently against vessels discharging oil products at the Saudi ports of Jeddah and Al-Shuqaiq.
Issue 1117 - 07 January 2021
Finance & business, Politics