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Trafigura Group pleaded guilty to a decade of bribery in Brazil, in the latest in a string of corruption cases that have exposed a culture of widespread corruption inside the world’s biggest commodity traders. Trafigura entered a plea agreement with the US Department of Justice in a federal court in Miami on Thursday. The company will pay a fine of $80.4 ...
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This paper documents the effect of the oil embargo and price cap on Russian oil exports in the wake of the Russian invasion of Ukraine in February 2022. We show that the embargo forced Russia to accept a $32/bbl discount on its Urals crude in March 2023 relative to January 2022, nearly half of which is directly attributable to the higher cost of shipping ...