KOC Officials Referred to Prosecutions over Corruption Charges Worth $15M

KOC Officials Referred to Prosecutions over Corruption Charges Worth $15M
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KOC Officials Referred to Prosecutions over Corruption Charges Worth $15M

KOC Officials Referred to Prosecutions over Corruption Charges Worth $15M

Kuwait Anti-Corruption Authority (Nazaha) announced on Sunday referring a number of officials at Kuwait Oil Company (KOC), along with others facing corruption charges, to the public prosecution.

Nazaha's official spokesman Dr. Mohammad Bouzbar said in a statement that the notification included results by an investigation panel regarding contracts and projects of crude oil pipelines in northern regions.

They were submitted to the prosecution in line with a notification filed by KOC about suspicious "corruption crimes" that incurred losses, Nazaha said, adding that the suspects were charged with negligence and slackness in management of projects in North Kuwait.

He said that the report highlighted suspected corruption crimes, worth KD 4.683 million (USD 15.4 million).

According to the results, there were suspicious crimes of facilitating seizure of public funds, intentional and non-intentional misappropriation of public funds, illegal profit making and aiding others to make such earnings.

Bouzbar said after Nazaha confirmed existence of reasonable bases for the suspicious corruption crimes, it referred the case to the public prosecution.



Putin Approves Military Focused 2025-2027 Budget

Russian President Vladimir Putin meets with the Governor of the Kirov region in Moscow, Russia, 29 November 2024.  EPA/VYACHESLAV PROKOFIEV / SPUTNIK / KREMLIN POOL
Russian President Vladimir Putin meets with the Governor of the Kirov region in Moscow, Russia, 29 November 2024. EPA/VYACHESLAV PROKOFIEV / SPUTNIK / KREMLIN POOL
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Putin Approves Military Focused 2025-2027 Budget

Russian President Vladimir Putin meets with the Governor of the Kirov region in Moscow, Russia, 29 November 2024.  EPA/VYACHESLAV PROKOFIEV / SPUTNIK / KREMLIN POOL
Russian President Vladimir Putin meets with the Governor of the Kirov region in Moscow, Russia, 29 November 2024. EPA/VYACHESLAV PROKOFIEV / SPUTNIK / KREMLIN POOL

Russian President Vladimir Putin has approved a military focused budget for 2025-2027, a document published on the official legal acts website showed on Sunday.
The state budget for next year includes a 25% hike in military spending but will be the most secretive in post-Soviet history, with almost a third of all spending closed to public scrutiny, Reuters reported.
The government has acknowledged that the needs of what Moscow calls its special military operation in Ukraine and support for the military will remain the budget priority along with social needs and technological development.
The government has presented the draft budget as "balanced", with the deficit falling to 0.5% against this year's projected deficit of 1.7% and state debt remaining below the 20% mark for the next three years.