USKOK allegedly investigating JANAF’s speculative oil trading – Croatia, 5 May 2016

According to the unofficial information, the Croatian Office for the Suppression of Corruption and Organized Crime (USKOK) is interested whether is it true that state-owned oil transportation company JANAF is involved in speculative crude oil trading in futures market.
Futures trading in oil as a commodity in the global market is not uncommon, however it is not listed as one of JANAF’s activities. Since the trading of this kind is of speculative nature and is based on securities trading and the speculation of rise or fall in oil prices, it is often associated with large and rapid earnings, but also the potential losses. Futures trading is completely legal in Croatia.

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