Mining giant Glencore confesses to bribery and manipulation, expects US 1 billion fine | Abroad

Following allegations of bribery and oil price manipulation, Swiss commodities trader and mining giant Glencore pleaded guilty and agreed to a settlement with international judicial authorities in the United States, Brazil and the United Kingdom. This is reported by the US Department of Justice in Washington.

Authorities accused Glencore and its subsidiaries of decades of bribery and oil price manipulation. Glencore expects to pay approximately $1 billion (EUR 934,000) in the United States and another $40 million (EUR 37 million) in Brazil.

The group expects an additional fine in the United Kingdom. In Switzerland and the Netherlands, the investigations are still ongoing.

The fine to be paid will be determined on 21 June.

United States Attorney General Merrick Garland. © ANP / EPA

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