Reta Jo Lewis Chair, US Export-Import Bank (EXIM) Washington, DC

Specifically, the groups called for the end of two Financial Institution Buyer Credit (FIBC) policies for two lenders that allow Trafigura to purchase liquid natural gas for export from the United States, despite media reports of ongoing criminal investigation of Trafigura by US and Swiss law enforcement authorities for alleged activities in Brazil and Angola. [...] District Court on March 28, 2024, for violations of the Foreign Corrupt Practices Act, specifically conspiracy to violate anti-bribery provisions in Brazil.5 Separate corruption charges are under consideration against Trafigura in Switzerland.6 OIG is making EXIM aware of the above facts and intends to initiate additional oversight related to EXIM’s due diligence and risk management practices in F. [...] The Inspector General’s report also expresses deep concern that in the course of drafting its report: EXIM requested during its review of a draft of this report that OIG withhold information from release, citing an exemption under the Freedom of Information Act…OIG is concerned about the extent of EXIM’s requested redactions as well as EXIM’s failure to identify any non-speculative harm to the del. [...] Commodity Futures Trading Commission (CFTC) issued a press release announcing the results of its investigation of Trafigura’s activities in Mexico, and: “[I]issued an order simultaneously filing and settling charges against Trafigura Trading LLC.” And that as per the settlement the agency: “Orders Trafigura to pay $55 million for Fraud, Manipulation and Impeding Communications with the CFTC.” 2 ht. [...] The finding of fraud and other illegal activities by two separate agencies, the EXIM Inspector General’s Management Alert on EXIM’s failure to act on fraud-related information, and EXIM’s insistence on redacting public-interest information in the Inspector General’s report reveals a pattern of contempt for the law by Trafigura and raises questions about EXIM Management’s commitment to responsible.