Swiss, Brazil Try to Unravel Petrobras Affair

By Brenna Hughes Neghaiwi
Tuesday, April 9, 2019

Crimefighters in Switzerland and Brazil pledged to intensify cooperation to resolve the sprawling corruption case linked to state oil firm Petrobras in which around 700 million Swiss francs ($701 million) remain frozen in Switzerland.

Switzerland has so far returned roughly 365 million Swiss francs ($365.6 million) to Brazil related to Petrobras and construction firm Odebrecht, the Swiss Office of the Attorney General (OAG) said on Tuesday, including 9 million francs in March.

Around 70 related criminal proceedings are under way in Switzerland, two of which are scrutinizing Swiss financial groups, the OAG said after Swiss Attorney General Michael Lauber and Brazilian Prosecutor General Raquel Dodge met in Brasilia on Monday.

"The two counterparts signed a joint declaration reaffirming their commitment to continue and intensify their cooperation," the OAG said in a statement.

More than 130 businessmen and politicians have been convicted in Brazil in the case, focused on political kickbacks and money laundering at Petrobras and Odebrecht. Ex-Brazilian President Luiz Inacio Lula da Silva is serving a 12-year prison sentence.

Around 15 criminal cases opened in Switzerland have been passed along to authorities in Brazil. The probe has also swept up leading global commodity traders based in Switzerland. The Swiss are assisting Brazilian prosecutors investigating alleged bribery and corruption links to Vitol, Trafigura and Glencore.


($1 = 0.9982 Swiss francs)

(Reporting by Brenna Hughes Neghaiwi, editing by John Revill and John Miller)

Categories: Legal Finance South America

Related Stories

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

Shell’s Brazil-Bound FPSO Starts Taking Shape

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Current News

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Pakistan, Türkiye Deepen Oil and Gas Ties with Offshore Indus-C Block Deal

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com