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Law

Enforcement of International Anti-Bribery Laws Against State-Owned Enterprises

Quick fact

The U.S. Foreign Corrupt Practices Act (FCPA) has been used to prosecute and fine state-owned enterprises, such as when it penalized a Brazilian state-controlled oil company—Petrobras—in 2018, resulting in a $1.78 billion settlement, the largest ever at the time.

Why this is interesting

A state-owned oil giant signs a contract with a foreign minister's cousin—can international law touch it? Surprising answer: yes, even when the state itself is untouchable.