VIOLATION OF EU SANCTIONS : Litasco, the vast nebula

In recent years, the suiss trading company, Litasco, has been involved in various transactions and scandals on the African continent. One notable instance is the supply of lower-quality products to Nigeria via MRS Oil Nigeria plc in January 2022, resulting in fuel problems in the country.

More recently, in September 2023, Litasco extended a loan facility of $620 million to the Ghana National Petroleum Company (GNPC). It is safe to say that this facility lacked transparency, and its conditions are currently under investigation by the Ghanaian Parliament. Another notable case involves the supply of multiple crude oil cargoes to the Senegal refinery through Der Mond Oil and Gas in April 2021.

These transactions have recently undergone arbitration proceedings between Der Mond and Litasco before a British court. During the trial, it emerged from the confidential document I am forwarding to you that Litasco violated several sanctions imposed by the European Union (EU). The attached document sheds light on Litasco’s violation of EU sanctions.