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BNE: Massive corruption at Ukraine’s Naftogaz funnelled through western banks

Published April 4, 2014 at 2:12 pm

This wasn't the first time that Naftogaz was involved in a deal involving such a huge discrepancy in the price it paid and the price quoted by the makers of the drilling platform.

Photo by mistinfo.com

Italian banking giant UniCredit ignored money-laundering allegations to deal in funds connected to a controversial $400m deal between Ukraine's corrupt state energy company Naftogaz and Latvia's Riga Shipyards, according to documents obtained by bne.