THE OECD has invited the Russian Federation to join the OECD’s Working
Group on Bribery and to accede to the OECD’s Anti-Bribery Convention.
Russian President Dmitry Medvedev signed at the beginning of May 2011
legislation that clearly criminalised foreign bribery, with a significant
increase in the monetary sanctions for companies and individuals who bribe
foreign public officials to gain business advantages . Following the invitation
on Wednesday, the Russian parliament will now proceed to approve the country’s
accession to the OECD Convention.
Like
all members of the Working Group on Bribery and in accordance with its
procedures, Russia will undergo detailed reviews of its anti-bribery laws to
confirm that they meet the Convention’s standards and that these laws are
effectively implemented.
Russia’s membership of the Working Group also marks another step forward
in the G20 Action Plan, supported by the OECD, for “combating corruption,
promoting market integrity and supporting a clean business
environment”.
The
34 OECD member countries plus Argentina, Brazil, Bulgaria and South Africa are
Parties to the Convention.
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