Russia to Join OECD Anti-Bribery Convention on April 17
On February 17, 2012, the Organization for Economic Cooperation and Development announced that its Secretary-General has received Russia's instrument of accession to the OECD Anti-Bribery Convention. Russia will become the 39th Party to the Convention on April 17, 2012. The Convention outlaws the bribery of foreign public officials in international business transactions to create a level playing field for fair competition. According to the OECD, Russia will undergo systematic reviews of its implementation of its anti-bribery laws, starting with a first examination in 2012. This will be one of 22 reviews the OECD will hold on a wide range of policy areas to assess the country's ability to meet OECD standards and become a member of the organization.
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(See ITT's Online Archives 11052548 for summary of the OECD inviting Russia to join the Anti-Bribery Convention in May 2011 after Russia signed legislation that criminalized foreign bribery and increased the monetary sanctions for those who bribe officials to gain business advantages.)