FCPA Guilty Plea and $661M Bribery Settlement (critical) Gunvor S.A. pleaded guilty to a felony charge of conspiring to violate the U.S. Foreign Corrupt Practices Act (FCPA). The company agreed to pay over $661 million (or $662 million) to resolve U.S. and Swiss investigations into a scheme to pay bribes to Ecuadorean government officials to secure business.. Acquisition of Assets from Sanctioned Russian Entity (Lukoil) (critical) Gunvor Group accepted an offer to buy the foreign assets (LUKOIL International GmbH) of Russian oil producer Lukoil PJSC. Lukoil is described as being 'under pressure from U.S. sanctions' and is a 'Sanctioned Russian oil producer.' This transaction, occurring immediately after sanctions pressure, raises significant geopolitical and sanctions compliance risks.. Regulatory Warning for Export/Import Reporting Compliance (Canada) (high) Gunvor USA LLC received a Warning Letter from the Canadian Energy Regulator (CER) indicating 'serious concerns' with the company’s compliance regarding National Energy Board Export and Import Reporting requirements.. Lost Arbitration Case to Pakistan State Oil over Excess Payments (medium) Pakistan State Oil Co. won an arbitration case against Gunvor Group Ltd. concerning 'excess payments' related to LNG supply contracts.. Ongoing Arbitration Dispute with Indonesian State Gas Company (PGN) (medium) Gunvor Singapore Pte Ltd is currently embroiled in an arbitration dispute with PT Perusahaan Gas Negara Tbk (PGN), the Indonesian gas distribution giant, over an LNG supply dispute. The case is being heard in London arbitration.. Ongoing Criminal Trial of Former Senior Executive (high) A former senior executive of Gunvor Group is scheduled to stand trial in Bellinzona, Switzerland, on charges related to bribery, indicating that the legal fallout from the corruption scandals is still active and involves individual accountability at a high level.. Recent High-Level Trading Leadership Instability and Losses (high) Gunvor underwent a significant leadership shake-up in its core trading division following crude oil trading losses in the prior year, including a 'bullish North Sea play that went wrong.' This included the departure of the Global Head of Trading, Stéphane Degenne (Mar 2025), and the Global Head of Crude Trading, Benoit Roulon (Jan 2025).