Midway Trading

Midway Trading admits oil-for-food bribe

A US oil trading company has pleaded guilty to involvement in the Iraq oil-for-food scandal and agreed to pay a fine of $250,000 (£141,000).

Midway Trading was accused of paying $400,000 in bribes to Iraqi officials for oil purchases under the UN scheme.

The scheme was devised to let Saddam Hussein sell oil and buy humanitarian goods while sanctions were in force