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#380 | Marc Rich: The King of Oil

English Learning for Curious Minds | A More Interesting Way To Learn English

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Mark Rich and the Beginnings of His Fortune

Mark Rich invented what was called the spot market for oil. He acted as an intermediary, a middleman who countries could deal with and buy goods from while camouflaging the origin of those goods. Spain bought oil that had been transported through this Israeli pipeline via Mark Rich - despite Spain having no formal diplomatic relations with Israel until 1986.

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