Israeli Businessmen Convicted of Bribery in Georgia

Israeli citizens Ron Fuchs and Zeev Frankiel were convicted of offering a $7 million bribe to Deputy Georgian Finance Minister Avtandil Kharaidze in October 2010, in exchange for dropping plans to protest the decision of an international arbitration court. The defendants were sentenced to seven and six years in prison, respectively, and fined. Defense lawyers say their clients were ensnared in a plot orchestrated by senior government officials trying to avoid an arbitration payment of $90 million. The 2010 arbitration award was related to an oil pipeline development contract, concluded in early 1990s and later unilaterally terminated by the Georgian government. http://uk.reuters.com/article/2011/04/01/uk-georgia-israel-trial-idUKTRE7303ZM20110401 http://liveshots.blogs.foxnews.com/2011/01/18/israeli-businessmen-on-trial-in-tbilisi/ http://www.youtube.com/watch?v=oqqur2X8LN4 (video, undercover footage)

New Talks To Begin with Bulgaria for Russian-Kazakh Oil Pipeline

Transneft continues efforts to talk to Bulgaria about an oil pipeline that would take Russian and Kazakh gas through Bulgaria and Greece. Concerns over environmental impacts related to laying the pipeline along Bulgaria’s coastline, a tourist destination, were recently discussed. Bulgaria plans to put together a team of experts to explore the pipeline proposal.

http://www.themoscowtimes.com/business/article/pipeline-gets-new-lease-on-life/413579.html

Lithuania’s Energy Minister Comments on Gazprom

Lithuania’s Energy Minister Arvydas Sekmokas said letters from E. On and Gazprom would not deter Lithuania from opening its energy market to competition. Sekmokas said the tone of the letters from E. On and Gazprom sounded like ultimatums and pressure on small countries by large corporations.

http://www.themoscowtimes.com/business/article/chip-import-ban-sought/413699.html