Judge Loma G. Schofield imposed a fine of $428.5 million and criminal forfeiture of $272.2 million on Glencore on February 28.

Glencore pleaded guilty last May to violating the Foreign Corrupt Practices Act. For this reason, the Swiss commodity trading and mining giant must pay a fine of 700 million dollars according to the verdict of the federal judge in New York. Indeed, the fine will be divided between three beneficiaries divided as follows: 262.6 million dollars for the American authorities, 136.2 million dollars for the British authorities and 29.7 million dollars for the Swiss authorities.

According to federal prosecutors, Glencore paid more than $100 million in bribes to secure contracts in Nigeria, DRC, Cameroon, Ivory Coast, and Equatorial Guinea, as well as Brazil and Venezuela between 2007 and 2018. The latest sanctions are part of a $1.5 billion payout resulting from investigations into corruption and market manipulation in the United States, the United Kingdom and Brazil.