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Total to pay $398m over Iran bribery charges

France’s Total has agreed to pay more than $398m to settle charges brought by the US authorities over the alleged payment of $60m in bribes to help win lucrative oil and gas contracts in Iran in the 1990s.
The allegations, which relate to contracts for Sirri A and E and South Pars fields fields, have been pursued by the US Securities and Exchange Commission (SEC), which settled with Total through an administrative order, and the Department of Justice (DoJ), which filed a criminal case in the US District Court for the Eastern District of Virginia. Total has also been charged with violation of French laws by the Paris prosecutor.

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