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Countering Corruption

Transneft openly declares its zero tolerance to corruption in any of its forms and manifestations, which means a blanket ban for executives, employees, as well as other persons acting on behalf of the Company and its subsidiaries, or promoting their interests, to get involved in corrupt schemes directly or indirectly, in person or by proxy.

Transneft has been a member of the Anti-Corruption Charter of Russian Business since October 2014.

Inadmissibility of corrupt schemes is a mandatory requirement for any engagement with representatives of public authorities and local government bodies, NGOs, government agencies, businesses, politicians and other persons or entities.

Corruption is the abuse of office and powers, bribe taking and giving, trading in influence or illicit use by individuals of their official capacity contrary to the legitimate interests of the company and the state for the sake of gaining money, valuables, other property and property benefits and titles for themselves or for third parties, or else illicit granting of the said benefits to a company’s employee by other individuals. Perpetration of the said malfeasance on behalf of a legal entity or for the sake of promoting the latter’s interests shall also be qualified as corruption.

Information about the results of the effort to prevent and counteract corruption for 2017 was included in the Sustainable Development Report (pages 134 – 137)

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