The U.S. and British governments knew over four years ago that Iraq was demanding extra fees from importers through U.N. oil-for-food funds, an Australian commission of inquiry was told on Friday. Shipping group P & O Nedlloyd Ltd. (PONL) told the inquiry, which has so far concentrated on $222 million in alleged kickbacks paid by Australian wheat exporter AWB Ltd., that it had advised the U.S. and British navies, as well as the British Embassy in Dubai, of 10 percent kickbacks demanded by Iraq. Full Story
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