Spain calls on EU to warn Equatorial Guinea - Riggs Bank

[seemslikeadream]

The letter to the EU Parliament points to the recent revelations by the US Senate regarding President Obiang's dealings with Riggs Bank, where the Equatoguinean Dictator has deposited millions of US dollars on private accounts stemming from the poor country's oil exploitation. The US Senate report pointed to possible corruption involving US and other oil companies operating in Equatorial Guinea.

- The nature of the contracts with these oil companies remains among the best kept secrets of the Equatoguinean regime, the letter says. "The citizens of Equatorial Guinea are left unknowing of where, to whom and how much the oil companies are paying."

...

The letter points to "the complex relations with the Obiang family" maintained by the foreign oil companies, which were closely referred to in the US Senate report, leading the signatories to suppose the oil companies were engaged in "illegal relationship with the dictatorship" in Equatorial Guinea.

- These factors are, in out opinion, the basis of the permanent political instability that prevails in the country and that constitutes elements of concern for the entire Gulf of Guinea region," the Spanish politicians emphasise

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http://www.afrol.com/articles/14576