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.
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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.
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The group expects an additional fine in the United Kingdom. In Switzerland and the Netherlands, the investigations are still ongoing.
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The fine to be paid will be determined on 21 June.
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