The article discusses the contrasting actions of the U.S. government in recent events, highlighting a significant sanction against Russian oil companies while pardoning Changpeng Zhao, a crypto tycoon involved in sanctions violations. This inconsistency raises questions about decision-making processes and reflects a broader pattern of illogical policies reminiscent of the pre-World War I era, known as the Gilded Age.
As for Russia, the long-standing legal battle between shareholders of Yukos, an oil company expropriated by the Kremlin, ended with a victory for the shareholders, allowing them to pursue claims against Russian assets globally. This situation contrasts sharply with current Russian state assets frozen in Western nations, making historical analysis inevitable.
The article also touches on the complicated case of P&I D, a small offshore company entangled in a legal battle with Nigeria regarding an unfulfilled gas processing contract. Allegations of corruption mar the case, emphasizing the challenges of international arbitration and the need for better regulation against kleptocracy in Britain.
The author remains cautiously optimistic, noting that the current socio-economic climate echoes troubling historical precedents while advocating for more accountability and action against financial misconduct.
