facebook
twitter
rss
account
search
search
 

Total cleared in Iraqi oil scandal

July 9, 2013 at 7:46 AM   |   Comments

PARIS, July 9 (UPI) -- French energy company Total said it was cleared by a Parisian court of violating U.N. sanctions during Iraq's controversial oil-for-food program.

A U.N. committee led by former U.S. Federal Reserve Chairman Paul Volker said in 2005 there were thousands of companies allegedly involved in illegal activities tied to the oil-for-food program for Iraq.

The program permitted Iraqi dictator Saddam Hussein to sell oil to purchase food and other humanitarian aid while the country was under international sanctions. The program ended after the U.S.-led invasion of Iraq in 2003.

Total said Monday the charges against the company, its Chief Executive Officer Christophe de Margerie and five former employers were dismissed by a criminal court in Paris.

De Margerie was facing corruption charges in Paris related to the U.N. relief program for Iraq. He faced a five-year prison sentence and nearly $500,000 in fines for abusing the program.

Iraqi oil production has increased since the end of the U.S.-led incursion in 2011. Ongoing administrative disputes and a high level of violence have curbed the oil sector's potential.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
IS oil smugglers will feel wrath, Kurdish leader says IS oil smugglers will feel wrath, Kurdish leader says
2
Outrage over FERC decision on LNG exports Outrage over FERC decision on LNG exports
3
Exxon says it's safe from Russian sanctions Exxon says it's safe from Russian sanctions
4
Gas ball in Ukraine's court, Kremlin says Gas ball in Ukraine's court, Kremlin says
5
Navy orders more Block IV Tomahawk cruise missiles Navy orders more Block IV Tomahawk cruise missiles
Trending News
x
Feedback