Contributing editor’s comments

Multinationals named, so far, in the Petrobras corruption investigation

It is not just the local Brazilian suppliers that are involved in the graft investigations at Petobras but the following multinationals have been named and will be investigated by their governments, the SEC and the US Justice Dept.: Dutch SMB, Swede Skanska, Korean Samsung Heavy Industries, Japanese Toyo, Singapore based Keppel Corp and Sembcorp Marine, UK Rolls Royce.

Ishikawajima Harima Heavy Industries (IHI) partners with shipyard Estaleiro Atlantico Sul (EAS), Kawasaki Heavy Industries partners with Odebrecht at the Enseada shipyard, JB Minovix partners with Estaleiro Rio Grande shipyard that has a participation of Mitsubishi Heavy Industries.

 

The ramifications of the investigations and resulting findings can be huge and costly, image and financial, to all involved.

 

The investigations have just started and much more will be discovered. By the end of this month the Brazilian prosecutors will name the politicians involved in the corruption scandal. This might just bring Brasilia to a stand still. Not good for the economy which needs  to approve much needed fiscal legislation.

 

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