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LatinNews Regional Monitor: Brazil & Southern Cone - 04 January 2018

In brief: Brazil

*Brazil’s state-owned oil company Petrobras has agreed to pay US$2.95bn to settle a class action lawsuit in the US, according to a statement on the firm's website. This comes after top Petrobras officials admitted, as part of Brazil’s anti-corruption investigation ‘Operation Car Wash’, to paying bribes to government officials in various countries to win state contracts. The settlement is still subject to review and has not yet been approved by the US District Court for the Southern District of New York (SDNY).