Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile5 entries
2024
Ecuador corruption resolution
Gunvor resolved United States and Swiss investigations into past Ecuador-related conduct, accepted responsibility for actions by certain former agents and employees, and agreed to approximately US$374 million in fines and US$287 million in forfeiture.
2019
Swiss bribery penalty
Swiss authorities ordered Gunvor to pay approximately US$96.7 million after finding that it had failed to maintain adequate measures to prevent bribery of foreign officials in Côte d'Ivoire and the Republic of Congo.
2017
Belarus oil-smuggling allegations
A Swedish Radio documentary presented evidence alleging that Gunvor had been involved in a Belarusian oil-smuggling scheme connected to corruption. Gunvor denied wrongdoing. The documentary later received a Prix Europa award.
2010
WikiLeaks-related allegations
Reports based on United States diplomatic cables linked Gunvor to alleged Russian political connections and questioned its ownership. Gunvor denied the allegations and described its ownership and financing arrangements.
2009
The Economist libel dispute
Gunvor and Timchenko sued The Economist over material concerning Timchenko and the company. The publication removed the disputed material and issued a correction as part of a settlement.