Bolivia's Fuel Crisis: A Deepening Investigation into YPFB Irregularities
Bolivia's government intensifies its probe into YPFB, a state energy firm, following complaints of irregularities in fuel procurement. Raided by anti-corruption authorities, YPFB faces scrutiny over contracts involving Trafigura, amid a national fuel crisis. Leadership changes unfold as the investigation progresses without yet identifying any suspects.
In a sweeping move, Bolivia's anti-corruption police and public prosecutor's office raided the offices of state energy firm YPFB in La Paz and Santa Cruz on Friday. The operation, witnessed by Reuters and confirmed by local media, is part of a broader probe into alleged fuel procurement irregularities.
The investigation was prompted by complaints from Congress members and Vice President Edmand Lara, who criticized the exorbitant costs of oil procurement under the current administration compared to past practices. Currently, the probe is focusing on contracts and deals involving global commodity trading giant Trafigura, amid allegations of fuel smuggling.
As Bolivia battles an ongoing fuel crisis, characterized by persistent shortages and lengthy queues at gas stations, changes within YPFB's leadership add to the unfolding drama. Claudia Cronenbold resigned as president, calling for long-term restructuring, as Sebastian Daroca steps in as interim head, reflecting the turmoil at the state-run entity.
(With inputs from agencies.)
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