Shell Nigeria Clean Up Criticisms, FCPA Pause and the Slow March Back to Conflict in Gaza
Andrew Sheves Good morning.
🇳🇬 Shell allegedly ignored repeated warnings about corruption and mismanagement in its $1bn oil pollution clean-up operation in Nigeria’s Ogoniland region. Whistleblowers claim that Shell was aware that the clean-up project was awarding contracts to inexperienced companies, falsifying lab results, and inflating costs. The revelations come as Shell faces a High Court trial in London this week, where 50,000 Ogoniland residents seek compensation for oil spills that occurred between 1989 and 2020. [More - BBC]
⚖️ President Trump signed an executive order to pause enforcement of the Foreign Corrupt Practices Act (FCPA), which prohibits US companies from bribing foreign officials for business advantages. The order directs the US Attorney General to pause cases for 180 days, review past cases and issue new guidelines. Trump argues that current enforcement puts American companies at a competitive disadvantage internationally. [More - Bloomberg]
🇵🇸 The Israel - Hamas ceasefire seems close to collapse as offhand remarks by President Trump — that all hostages should be released by Saturday — have been echoed by Israeli leaders, significantly altering the terms of the deal. Hamas will refuse to accept these changes and still accuses Israel of breaking the terms of the deal, specifically around military action in Gaza and food deliveries, making the collapse of the ceasefire all but certain. Israeli hardliners are further emboldened by Trump’s comments on the need to expel Palestinians from Gaza despite widespread condemnation and a rejection of this plan from neighboring states. [More - AlJazeera]
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Carpe tomorrow!