OECD Invites Russia to Join Anti-Bribery Convention
The Organization for Economic Cooperation and Development has announced that it will invite Russia to join the OECD's Working Group on Bribery and to accede to the OECD's Anti-Bribery Convention. The OECD states that the Russian President signed legislation early…
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this month that criminalized foreign bribery, with a significant increase in the monetary sanctions for companies and individuals who bribe foreign public officials to gain business advantages. Russia will have to undergo detailed reviews of its anti-bribery laws to confirm that they meet the Convention’s standards and that these laws are effectively implemented. (See ITT's Online Archives or 05/06/11 news, 11050629, for BP summary of the President's signing a foreign-bribery legislation.)