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News // Politics

Russia Heads Corrupt UN Oil-for-food Programme List

28 October 2005 , 13:01373
The UN oil-for-food program corrupt report, which includes more than 2,500 companies of 60 countries, contains the most number of companies of Russia, according to Reuters. Russia was closely followed by France.

The inquiry was led by Paul A. Volcker, former chairman of the US Federal Reserve Board.

The report details how the corrupt companies were able to evade UN controls and make money for themselves as well as for Saddam?s government.

Executive director of the committee, Reid Morden, said: ?The manipulation of the program, which led companies, entities and individuals to pay, directly or indirectly, surcharges and kickbacks will be the focus of the report.?

Illegal payments on oil and other goods are estimated at more than $1.31 billion, sources close to the investigation said. The surcharges on oil were finally stopped in 2001 by the United States and Britain in the UN Security Council

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