Costantino Grasso

University of East London, Business and Law School, Faculty Member

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• Senior Lecturer in Corporate Governance and Financial Crime, University of East London
• Global MBA Module Leader for Corporate Governance, University of London
• Visiting Lecturer, Queen Mary University of London
• PhD in Criminal Law, University of Naples
• LLM in Commercial and Corporate Law, Queen Mary University of London
• Solicitor in England and Wales. Lawyer in Italy
• Demonstrated excellence in legal research with published works and several academic and professional presentations both in English and Italian
• Areas of specialisation: Financial Crime, Corporate Governance, Domestic and European Criminal Law, Energy Governance and Trade, External Relation Law of the European Union
Phone: 0044(0)2082233085
Address: University of East London
School of Business and Law
University Square Stratford, 1 Salway Road
London E15 1NF, United Kingdom

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Papers by Costantino Grasso

Framing the World Bank’s Sanction Power: Sources and Procedure

Fighting Fraud and Corruption at the World Bank, 2018

The first section of this chapter will be devoted to an analysis of the various legal sources gov... more The first section of this chapter will be devoted to an analysis of the various legal sources governing the sanctions process. Moreover, it will be offered an evaluation of the extent to which the legal framework created by the World Bank is respectful of the principle of the rule of law. However, before conducting such an assessment, it is necessary to verify if the rule of law can, in principle, be considered as applicable to the Bank’s sanctions process.

Exceptions

Commentary on the Energy Charter Treaty, 2018

Introduction: Energy Security, Trade and the EU: Regional and International Perspectives

European Public Law: EU eJournal, 2016

Energy security is a burning issue in a world where 1.4 billion people still have no access to el... more Energy security is a burning issue in a world where 1.4 billion people still have no access to electricity. This pioneering book is about finding solutions for energy security through the international trading system.Focusing mainly on the European Union (EU) as a case study, this holistic and comprehensive analysis of the existing legal and geopolitical instruments strives to identify the shortcomings of the international and EU energy trade governance systems, concluding with the notion of a European Energy Union and what the EU is politically prepared to accept as part of its unified energy security.This snapshot of multilateral, regional and bilateral energy trade governance deals with energy transit from the perspective of the Energy Charter Treaty as a means to enhance EU energy security, and examines the system of law and governance of international trade in unconventional fossil fuels. The authors analyze concerns that arise from preferential trade agreements and renewable e...

The creation of the European Energy Union

Energy Security, Trade and the EU

Energy security is one of the main problems that humanity faces today and the European Union (EU)... more Energy security is one of the main problems that humanity faces today and the European Union (EU) has to rely on energy-rich countries for its energy needs. The European Innovation Union, the Energy Community, and the Europe 2020 initiative address energy security as a priority, but policies seem to be reactive instead of addressing energy security in its complexity. This problem can be solved with appropriate legal tools. Energy governance has links with several policies: trade, investment, environmental protection, energy transit, energy security, finance, et cetera. Of these policies, energy trade has a high impact for European energy security policy. Currently, the international community does not address trade in energy as a cohesive entity and its governance is fragmented. The paper explores the institutional legal framework for the creation of a European energy union, whose aim is to achieve affordable, secure and sustainable energy. This energy union is based on five pillars, which are analyzed: security, solidarity and trust; the completion of a competitive internal market; moderation of demand; the decarbonization of the EU energy mix (i.e., greater use of renewable energy); and technologies. The EU is the first region in the world to set up the ambitious target of decarbonizing its economy by 2050. The paper then looks at the energy union in the context of the rule of law. All of this could be reproduced in other regions of the world and eventually create a new international energy order. This requires a fresh and comprehensive approach to legal instruments.

Multilateral, Regional and Bilateral Energy Trade Governance

LSN: Regional Arrangements (Topic), 2014

The current international energy trade governance system is fragmented and multi-layered. Streaml... more The current international energy trade governance system is fragmented and multi-layered. Streamlining it for greater legal cohesiveness and international political and economic cooperation would promote global energy security. The current article explores three levels of energy trade governance: multilateral, regional and bilateral. Most energy-rich countries are part of the multilateral trading system, which is institutionalized by the World Trade Organization (WTO). The article analyzes the multilateral energy trade governance system by focusing on the WTO and energy transportation issues. Regionally, the article focuses on five major regional agreements and their energy-related aspects and examines the various causes that explain the proliferation of regional trade agreements, their compatibility with WTO law, and then provides several examples of regional energy trade governance throughout the world. When it comes to bilateral energy trade governance, this article only addresse...

Corruption in World Bank-Financed Development Projects: A Phenomenon-Focused Examination

SSRN Electronic Journal, 2019

In order to counter corruption and other illicit conducts within its projects, the World Bank has... more In order to counter corruption and other illicit conducts within its projects, the World Bank has developed an independent sanctions system, which represents a powerful tool that can be used to help ensure that the granted funds are actually used to benefit developing countries. This sanctions regime, although extremely valuable to fight corruption, is currently characterized by a limited level of transparency and affected by structural issues such as the lack of democratic legitimacy, the incompleteness of the related legal frameworks, and the absence of effective due process safeguards. This chapter aims at illustrating how the World Bank’s sanctions system has brought to light the way in which corruption operates within its projects and the weak spots that have been identified so far in the fight against such a criminal phenomenon.

The World Bank Sanctions System: Historical Overview and Background

The adoption of the World Bank sanctions process appears to be grounded on different reasons: the... more The adoption of the World Bank sanctions process appears to be grounded on different reasons: the first being the specific Bank’s aim of protecting its own resources from possible misuses and the second corresponding to the fight against corrupt and fraudulent activities as part of the World Bank’s commitment to reduce poverty and inequality. A third factor, related to the global policy against economic crimes, has recently emerged.

Defense’s Rights and Rule of Evidence

Fighting Fraud and Corruption at the World Bank, 2018

In order to avoid the occurrence of a Kafkian situation, any person under investigation should be... more In order to avoid the occurrence of a Kafkian situation, any person under investigation should be aware of the specific allegations he or she is under investigation for. When accused parties are aware of the investigative body’s concerns, they have the opportunity to present evidence and legal arguments directly targeted to them or, alternatively, may deliberately decide to stay silent.

Sanctions and Sentencing Practices

Sanctions vary according to the severity of offenses and the evidence presented against responden... more Sanctions vary according to the severity of offenses and the evidence presented against respondents. They impose different costs on the concerned firms and individuals. The Bank issued Sanctioning Guidelines in order to offer guiding criteria to the SDO and the Sanctions Board. The document specifies that the guiding principles “are not meant to be prescriptive in nature, but to provide guidance to those who have the discretion to impose sanctions on behalf of the” Bank. In World Bank v Contech Devices Pvt. Ltd., the Sanctions Board clarified:

The dark side of power: corruption and bribery within the energy industry

The Evolution of the World Bank Sanctions System

The use of World Bank’s funds for illicit purposes, including allocations for cronyism and politi... more The use of World Bank’s funds for illicit purposes, including allocations for cronyism and politically driven investments (e.g., military spending), arose as a major problem during the last 20 years. Prior to 1997, the immediate question was whether funds that governments misappropriated constituted a breach of contract as stipulated on the grounds of the Articles of Agreement. However, the World Bank officials consciously avoided any use of the word corruption. Corruption was considered an internal affair that was beyond the World Bank’s mandate. Inaction was the unfortunate consequence of such a situation. This inertia was justified on the grounds of the Articles of Agreement themselves, which specifically prohibit staff members from making lending decisions on the basis of political considerations:

Article 25- Economic Integration Agreements

Energy Security, Trade and the EU: Regional and International Perspectives

Energy security is a burning issue in a world where 1.4 billion people still have no access to el... more Energy security is a burning issue in a world where 1.4 billion people still have no access to electricity. This pioneering book is about finding solutions for energy security through the international trading system. Focusing mainly on the European Union (EU) as a case study, this holistic and comprehensive analysis of the existing legal and geopolitical instruments strives to identify the shortcomings of the international and EU energy trade governance systems, concluding with the notion of a European Energy Union and what the EU is politically prepared to accept as part of its unified energy security. This snapshot of multilateral, regional and bilateral energy trade governance deals with energy transit from the perspective of the Energy Charter Treaty as a means to enhance EU energy security, and examines the system of law and governance of international trade in unconventional fossil fuels. The authors analyze concerns that arise from preferential trade agreements and renewable energy from the EU’s perspective, and explain how the EU can diversify its energy supply to improve its energy security.

Unconventional fossil fuel sources and EU energy security

Article 23 - Observance by sub-national authorities

Economic Integration Agreements

Contents: summary of

The Creation of the IMF The Establishment of the Gold Exchange Standard The Membership of the IMF... more The Creation of the IMF The Establishment of the Gold Exchange Standard The Membership of the IMF The Legal Structure of the IMF The Political Structure of the IMF Quotas and their Significance The Availability of Financial Resources Credit Tranches, Stand-By Arrangements and Conditionality The Variety of Financial Facilities Developing Countries and the Debt Crisis Global Political Change and Reform of the IMF Conclusions

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Respondents, Sanctionable Practices, and Attribution of Liability

As a general rule, both individuals and firms may be subject to sanction. In order to verify whic... more

Fighting Fraud and Corruption at the World Bank

Fighting Fraud and Corruption at the World Bank, 2018

The use of general descriptive names, registered names, trademarks, service marks, etc. in this p... more The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

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The European Arrest Warrant under the Scrutiny of the Italian Constitutional Court

New Journal of European Criminal Law, 2013

Th e paper illustrates how the European Arrest Warrant was enacted in Italy, and highlights some ... more Th e paper illustrates how the European Arrest Warrant was enacted in Italy, and highlights some of the contradictions arising out of its reception into Italian law. In particular, the article focuses on issues relating to the compatibility of the EAW with the Italian Constitution and analyses the decisions No. 143 of 2008 and No. 227 of 2010 through which the Italian Constitutional Court declared the partial unconstitutionality of EAW implementing law (Act No. 69 of 2005). In the former decision the Court considered the rule provided by Article 33 of Act No. 69 contrary to the principle of equality enshrined by Article 3 of the Italian Constitution. In the latter decision the Court held that Article 18(1)(r) of EAW implementing law confl icted with the principles of non-discrimination and EU citizenship.

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Framing the World Bank’s Sanction Power: Sources and Procedure

Fighting Fraud and Corruption at the World Bank, 2018

Exceptions

Commentary on the Energy Charter Treaty, 2018

Introduction: Energy Security, Trade and the EU: Regional and International Perspectives

European Public Law: EU eJournal, 2016

The creation of the European Energy Union

Energy Security, Trade and the EU

Multilateral, Regional and Bilateral Energy Trade Governance

LSN: Regional Arrangements (Topic), 2014

Corruption in World Bank-Financed Development Projects: A Phenomenon-Focused Examination

SSRN Electronic Journal, 2019

The World Bank Sanctions System: Historical Overview and Background

Defense’s Rights and Rule of Evidence

Fighting Fraud and Corruption at the World Bank, 2018

Sanctions and Sentencing Practices

The dark side of power: corruption and bribery within the energy industry

The Evolution of the World Bank Sanctions System

Article 25- Economic Integration Agreements

Energy Security, Trade and the EU: Regional and International Perspectives

Energy security is a burning issue in a world where 1.4 billion people still have no access to el... more Energy security is a burning issue in a world where 1.4 billion people still have no access to electricity. This pioneering book is about finding solutions for energy security through the international trading system. Focusing mainly on the European Union (EU) as a case study, this holistic and comprehensive analysis of the existing legal and geopolitical instruments strives to identify the shortcomings of the international and EU energy trade governance systems, concluding with the notion of a European Energy Union and what the EU is politically prepared to accept as part of its unified energy security. This snapshot of multilateral, regional and bilateral energy trade governance deals with energy transit from the perspective of the Energy Charter Treaty as a means to enhance EU energy security, and examines the system of law and governance of international trade in unconventional fossil fuels. The authors analyze concerns that arise from preferential trade agreements and renewable energy from the EU’s perspective, and explain how the EU can diversify its energy supply to improve its energy security.

Unconventional fossil fuel sources and EU energy security

Article 23 - Observance by sub-national authorities

Economic Integration Agreements

Contents: summary of

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Respondents, Sanctionable Practices, and Attribution of Liability

As a general rule, both individuals and firms may be subject to sanction. In order to verify whic... more

Fighting Fraud and Corruption at the World Bank

Fighting Fraud and Corruption at the World Bank, 2018

Download

The European Arrest Warrant under the Scrutiny of the Italian Constitutional Court

New Journal of European Criminal Law, 2013

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The Dark Side of Power: Corruption and Bribery within the Energy Sector

As the Panama Papers, Bahamas Leaks and Paradise Papers scandals have recently demonstrated corru... more As the Panama Papers, Bahamas Leaks and Paradise Papers scandals have recently demonstrated corruption is rife in our societies. Although corruption has always constituted a plague for human civilization and has also penetrated into unexpected sectors of our communities, such a criminal phenomenon has traditionally been wildly rampant in the energy sector, and its effects have proved to be extremely dramatic. This chapter introduces the topic of corruption and analyses the reasons behind the fact that, almost unexpectedly, over the course of the last decades, it has gradually moved from the margins to the centre of the international political stage. The chapter then tries to explain why corruption has proved to be particularly invasive in the energy sector. Finally, the chapter offers a vivid depiction of a recent deal of dishonesty, which is emblematic of the way in which corrupt practices are commonly perpetrated within the energy industry.

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The Transatlantic Trade and Investment Partnership, Energy and Divestment

This chapter assesses the role that energy plays in the Transatlantic Trade and Investment Partne... more This chapter assesses the role that energy plays in the Transatlantic Trade and Investment Partnership (TTIP) negotiations and the growing importance that energy security is acquiring in the US-European Union political agenda. It analyzes the potential effects that the liberalization of trade in energy and raw materials is supposed to exert in both economies and the way in which the so-called US "shale gas revolution" will drive major changes in the commercialization of energy products. The chapter then illustrates the main problematic aspects currently under discussion regarding the application of the TTIP to the energy sector. Lastly, it discusses how divestment campaigns might constitute a valid instrument of socio-political pressure to induce energy companies and governments to adopt more ethical and environmentally-friendly policies.

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Energy Security, Trade and the EU: Regional and International Perspectives

by Rafael Leal-Arcas and Costantino Grasso

Energy security is a burning issue in a world where 1.4 billion people still have no access to el... more Energy security is a burning issue in a world where 1.4 billion people still have no access to electricity. This pioneering book is about finding solutions for energy security through the international trading system.

Focusing mainly on the European Union (EU) as a case study, this holistic and comprehensive analysis of the existing legal and geopolitical instruments strives to identify the shortcomings of the international and EU energy trade governance systems, concluding with the notion of a European Energy Union and what the EU is politically prepared to accept as part of its unified energy security.

This snapshot of multilateral, regional and bilateral energy trade governance deals with energy transit from the perspective of the Energy Charter Treaty as a means to enhance EU energy security, and examines the system of law and governance of international trade in unconventional fossil fuels. The authors analyze concerns that arise from preferential trade agreements and renewable energy from the EU’s perspective, and explain how the EU can diversify its energy supply to improve its energy security.

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Dirty Assets - Book Review

I have recently had the opportunity to review the volume Dirty Assets edited by Colin King, who i... more I have recently had the opportunity to review the volume Dirty Assets edited by Colin King, who is Senior Lecturer in Law at the University of Sussex, and Clive Walker, who is Professor Emeritus of Criminal Justice Studies at the University of Leeds.

I have found the book fascinating in that it focuses on the necessity of interrupting the massive illicit financial flows that exist at both domestic and transnational level and represent the lifeblood of any criminal organisation.

An entire chapter deals with specific measures designed to tackle the financing of terrorism. To my mind, taking into consideration the recent spreading of terrorist activities at the global level, the inclusion of such a part appears to be essential.

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US Republicans give the oil industry what it wants: less transparency

On 3 February 2017, with a resolution sponsored by 34 republican representatives, the U.S. Congre... more On 3 February 2017, with a resolution sponsored by 34 republican representatives, the U.S. Congress nullified the rules that the SEC issued in 2016 to implement Section 1504 of the Dodd-Frank Act under which companies in the extractive industries (oil, gas, and mining) have to publicly disclose the amounts that they pay to foreign governments in connection with projects abroad. The rules were intended to further the statutory objective to advance U.S. foreign policy interests by promoting greater transparency about payments related to resource extraction.

From a political, social and ethical point of view, the U.S. Congress's decision represents a serious blow to the global anti-corruption efforts and threatens to reverse the improvements seen over the past two decades.

This is a brief analysis, which was published on The Conversation.

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