Airbus ordered to pay $127m to settle Taiwan missile dispute

Airbus is the latest arms company to reach a settlement over disputes arising from one of France’s biggest ever arms sales. (Reuters)
Updated 13 January 2018
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Airbus ordered to pay $127m to settle Taiwan missile dispute

PARIS: Airbus said on Saturday it had been ordered to pay €104 million ($127 million) in fines over a missile sale to Taiwan in 1992, the latest French arms company to reach a settlement over disputes arising from one of France’s biggest ever arms sales.
The scandal around French arms sales to the island in the early 1990s was one of a series of cases that underpinned accusations of widespread corruption during the final years of late French President Francois Mitterrand.
Airbus said in a statement that its subsidiary behind the missile contract, Matra Defense, was “reviewing the award before evaluating the next steps to take.”
The arbitration fine comes three months after Dassault Aviation, radar supplier Thales and engine maker Safran said they had been fined a combined €227 million ($276.80 million) in Taiwan to settle the 25-year-old dispute over the wrongful use of commissions in the sale of 60 Mirage fighters to the island.
“This was a commercial dispute and not a corruption allegation,” said an Airbus spokesman.
In a separate case, Airbus said it was in talks with Munich prosecutors that could lead to the termination of their investigation into alleged corruption in the sale of Eurofighter combat jets to Austria in 2003.
That investigation is one of several corruption cases still facing Europe’s largest aerospace company.
Airbus did not mention the status of a parallel Austrian investigation into the same arms deal.
The company and individuals including CEO Tom Enders are being investigated in Vienna over industrial deals that were built into the Eurofighter sale and have denied any wrongdoing.
Separately, Airbus faces UK and French investigations into the use of middlemen in commercial airliner sales.


US Energy Secretary discussed Iran sanctions with Iraqi officials

Updated 11 December 2018
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US Energy Secretary discussed Iran sanctions with Iraqi officials

  • Perry spoke at a Baghdad hotel where he was attending a US chamber of commerce event alongside Iraqi Oil Minister Thamer Ghadhban
  • The United States has restored sanctions targeting Iran’s oil industry as well as its banking and transport industry

BAGHDAD: US Energy Secretary Rick Perry said on Tuesday he had discussed his country’s sanctions against Iran with Iraqi energy officials and signalled an intention to step up US private sector investment in Iraq.
Perry spoke at a Baghdad hotel where he was attending a US chamber of commerce event alongside Iraqi Oil Minister Thamer Ghadhban.
The United States has restored sanctions targeting Iran’s oil industry as well as its banking and transport industry.
Baghdad, an ally of both Washington and Tehran, is seeking US approval to allow it to import Iranian gas for its power stations.
Iraqi officials say they need more time to find an alternative source than a 45-day waiver granted to it by the United States.
“Sanctions were mentioned in meetings this morning,” Perry said without providing details.
He added that his attendance was sending a strong message of US commitment to Iraq’s economy and energy sector and that he recognized the challenges faced by Iraq’s government when it comes to rebuilding oil infrastructure destroyed during the war against Daesh militants.
“This is a different administration that will move with speed to develop an energy sector that best serves the citizens of Iraq,” Perry said of Prime Minister Adel Abdul Mahdi’s new government.