News Column

BNP Paribas Announces Readiness for Record Fine

June 30, 2014



TEHRAN (FNA)- France's biggest bank BNP Paribas announced on Monday it was ready to pay a record of USD 9 bln or Euro 6.5 bln fine over alleged sanctions breaches following an out-of-court deal.

"The US Justice Department could also ban some divisions of the bank from trading," Euronews reported. It is expected to plead guilty to a criminal charge in New York's Manhattan Federal Court on Monday. BNP has been accused of not respecting a United States embargo on financial transactions with Iran, South Sudan and Cuba between 2002 and 2009. The fine would be the largest penalty ever paid by a European bank for violations of sanctions imposed by the Office of Foreign Assets Control. France has asked that the fine be "fair".        


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Source: FARS News Agency


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