Russia to be part of OECD Anti-Bribery Pact

Russia has recently adopted the Organisation for Economic Cooperation and Development (OECD) Anti-Bribery Convention.

Alongside 34 OECD members which have previously undertaken the accession process, Russia is welcomed as an additional member.  The OECD said the adoption of the Convention is a major step for the nation towards upholding international anti-bribery standards.

On April 17, 2012, 60 days after the initial ceremony, Russia will become the 39th Party to the OECD Anti-Bribery Convention.   As of this day its accession agreement will enter into force.

Throughout the accession process, Russia will undergo systematic reviews of its implementation of its anti-bribery laws, starting with a first examination in 2012. This will be one of 22 reviews the OECD will hold on a wide range of policy areas to assess the country’s ability to meet OECD standards and become a member of the Organisation.

As of May 2011, bribing a foreign public official has been illegal in Russia.  With its legislation in place, the OECD invited Russia to join the OECD Working Group on Bribery in May 2011 before becoming a Party to the Convention.

The OECD Anti-Bribery Convention, which entered into force in 1999, outlaws the bribery of foreign public officials in international business transactions. Through country monitoring and extensive peer-led follow-up, the Convention seeks to ensure that the fight against bribery is effective, thus creating a level playing field for fair competition.