Associação Mãos Livres/Corruption Watch UK
By Mujtaba Ali
Controversial businessmen, shadowy offshore companies, and corrupt politicians looted a 1996 Russia-Angola debt deal earning hundreds of millions of dollars at the expense of the Russian and Angolan governments, a new report by the Angolan Associação Mãos Livres and Corruption Watch UK revealed on Tuesday. In a $1.5 billion debt repayment from Angola to Russia, $338 million went into the hands of persons who did very little, including a controversial Russian oligarch who earned more than $138 million.
The report, which looks deeply into the deal including listing original documents, shows exactly how major political players in Angola earned millions at the expense of their own state including José Eduardo dos Santos, then President of Angola.