The Council of Hemisphere was founded in 1975 for promoting the interest of the American Hemisphere. The aim of the COHA was to bring the regional issues in the light and to strengthen the importance of Inter-American relations. This is a non-profit and independent research and information organization that increases the visibility of the regional affairs. COHA is also seen as one of the most active organizations in US that is dealing with a wide range of political, economic and diplomatic issues and also responds to economic and political challenges in the hemisphere.
This article has been produced to explain and understand the Petrobras Scandal, as it is one of the largest corruption scandals that took place in Brazil. This article is also important because it significantly displayed the role of Luis Inácio Lula da Silvawho had been the president of Brazil from 2003 to 2010. His corruption had involved many leaders and reputed people of the country. Therefore, this article was presented to inform general public about the issue and operation Lava Jato.
Main people involved in this scandal are the political fissures and leaders of Brazil. Some of the people that were involved were the former President of Brazil, Luis Inácio Lula da Silva, Current President of Brazil Dilma Rousseff who had appointed Lula as her mentor in politics. Senator Delcídio do Amaral was also arrested in the year 2105. He informed about the involvement of many colleagues from the government and many from the opposition party. Therefore, the main involvement was of the political leaders in the scandal. The businessmen involved in this case were mainly from the oil, fuel and energy fuel industry. Some were from the construction companies.
Petrobras is a multinational corporation of Brazil whose headquarter is situated in Rio de Janeiro. The legal ties that the company has with the Brazilian government display that Brazilian government owns 54% of the direct shares of Petrobras with voting rights. Brazilian Development Bank and Brazil’s Sovereign Wealth Fund 。
Petrobras is publically trading international oil company same like Exxon Mobil. Both the companies are publically traded, but they are controlled by the Government. The control over the major decision remains in the hands of government and not shareholders (Von Glahn and Taulbee, 2015). The private international law refers to the laws, treaties, rules and regulations that help to govern the private individual in international market. The Private international law mainly deals with the non-governmental transactions. The Public international law is the law that governs different nations, their government bodies and interaction between them. Therefore, this contract will be governed by the public international law.
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