Norwegian fertilizer supplier Yara fined $48 million for paying bribes in Libya, India, Russia

The Associated Press 0

STAVANGER, Norway – Norway’s economic crimes authority has found fertilizer supplier Yara guilty of corruption involving deals in Libya, India and Russia and ordered it to pay 295 million kroner ($48 million) in fines.

The world’s biggest supplier of nitrogen fertilizers acknowledged Wednesday that it had paid out bribes in the three countries totalling more than 70 million kroner ($12 million) during 2004 to 2009.

The agency has started an investigation into whether it can prosecute individual company members for the crimes.

Oslo-based Yara International ASA has operations in 50 countries, employing 10,000 people. It sells fertilizers and other crop nutrition programs to customers in 150 countries.

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