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Search results for "Caspian sea" ...
In recent times U.S. search for oil outside the volatile Middle East has led them to Kazakhstan and other countries around the Caspian Sea. This story looks at the government in Kazakhstan and the regime which has a controversial record of human rights violation corruption. As this story reveals, millions of dollars paid as fees by American firms goes to offshore accounts controlled by top Kazakh officials.
The New Yorker investigates a ten-year multibillion oil swap involving Kazakhstan, Iran and a subsidiary of the Mobil Corporation. The story reveals that Mobil possibly violated the Foreign Corrupt Practices Act by paying more than a billion of dollars to Russian companies in "unorthodox transactions." The report raises "questions about the company's decisions to enter deals that ultimately benefitted powerful figures in the region, including President Nursultan Nazarbayev, of Kazakhstan, and former Prime Minister Viktor Chernomyrdin, of Russia." The investigation exposes the involvement of James Giffin, an American and a trusted aide of the Kazakh president, and looks at the role that some western high-ranking officials played in the corrupted scheme.