Today,Shell petroleum accounts in Luxembourg - Frits Bolkestein

Today, find the Shell petroleum accounts in Luxembourg (Clearstream) - A Frits Bolkestein former employer for 16 years. (Read full story)

Published and unpublished Shell Pétroleum accounts in Clearstream  Luxembourg

European Written Question (European Parliament)

Subject:  Clearstream, Menatep and Bolkestein

Answer(s)

On 26 March 2001, Mr Harlem Désir (PSE) put Question P‑1069/01(1) to the Commission. He asked the Commission to investigate revelations of serious breaches of financial regulations by the international clearing house Clearstream, based in Luxembourg. Among the points he mentioned was the involvement of the bank Menatep in the embezzlement of IMF funds in Russia. Secret bank accounts exist and suspect transactions and offshore centres have not been investigated. On 2 May 2001 Mr Bolkestein replied on behalf of the Commission that there were no grounds for a European investigation because Luxembourg had transposed the relevant directive on money laundering correctly and was applying it correctly. He expressed every confidence in the Luxembourg court. In 2001 Menatep brought legal proceedings against those who had revealed the breaches. A court in France rejected its application, and the rejection was upheld on appeal in 2004. The Shell group has secret bank accounts with Clearstream. Mr Bolkestein worked for Shell for 16 years. Recently, Mr Bolkestein joined Menatep's Advisory Board. He will help the management of the Menatep Group to protect the group's interests in the light of the criminal proceedings brought by the Russian authorities against components of the Menatep Group. 1. Does the Commission believe that there are now after all grounds for a European investigation, as this is clearly not a matter internal to Luxembourg? 2. Can it explain the role of Commissioner Bolkestein, in view of his former relationship with Shell and the relationship he has since entered into with Menatep? 3. In connection with the reply to the question, did Menatep contact Commissioner Bolkestein or his private office? 4. Does the Commission respect the judgments given by Russia's criminal courts to the extent of taking the necessary action prompted by them in conjunction with the code of conduct for European Commissioners?

 Subject:  Clearstream, Menatep and Bolkestein

Answer(s)

 Answer(s) 

On 26 March 2001, Mr Harlem Désir (PSE) put Question P‑1069/01(1) to the Commission. He asked the Commission to investigate revelations of serious breaches of financial regulations by the international clearing house Clearstream, based in Luxembourg. Among the points he mentioned was the involvement of the bank Menatep in the embezzlement of IMF funds in Russia. Secret bank accounts exist and suspect transactions and offshore centres have not been investigated.
On 2 May 2001 Mr Bolkestein replied on behalf of the Commission that there were no grounds for a European investigation because Luxembourg had transposed the relevant directive on money laundering correctly and was applying it correctly. He expressed every confidence in the Luxembourg court.
In 2001 Menatep brought legal proceedings against those who had revealed the breaches. A court in France rejected its application, and the rejection was upheld on appeal in 2004. The Shell group has secret bank accounts with Clearstream. Mr Bolkestein worked for Shell for 16 years.
Recently, Mr Bolkestein joined Menatep's Advisory Board. He will help the management of the Menatep Group to protect the group's interests in the light of the criminal proceedings brought by the Russian authorities against components of the Menatep Group.
1. Does the Commission believe that there are now after all grounds for a European investigation, as this is clearly not a matter internal to Luxembourg?
2. Can it explain the role of Commissioner Bolkestein, in view of his former relationship with Shell and the relationship he has since entered into with Menatep?
3. In connection with the reply to the question, did Menatep contact Commissioner Bolkestein or his private office?
4. Does the Commission respect the judgments given by Russia's criminal courts to the extent of taking the necessary action prompted by them in conjunction with the code of conduct for European Commissioners?

Answering the question raised by European MPs(MEP) Harlem Désir, Glyn Ford and Francis Wurtz, who asked the Commission to investigate the accusations made by the book and to ensure that the 10 June 1990 directive (91/308 EC) on control of financial establishment be applied in all member states in an effective way, Commissioner Frits Bolkestein observed that "the Commission has no reason to date to believe that the Luxembourg authorities do not apply it vigorously". On April 26, 2006, 20 Minutes revealed that "in May 2005, MEP Paul Van Buitenen was shocked by Frits Bolkestein's presence on Menatep's international consultative council, a Russian banking establishment, and by his work for Shell, a British-Dutch petrol company, two firms 'maintaining secret accounts in Clearstream'... Van Buitenen, also Dutch, then asked for 'clarification' to the European Commission and the opening of a parliamentary investigation. The Commission's president, José Manuel Barroso, replied that these facts 'do not bring up any new question' and that it is not known 'if Menatep made contact with Bolkestein while he was in these positions'. No investigation therefore took place."

Before 2001, following the internals rules of Clearstream, only banks were accepted in the system.

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