News Column

Hollande Questions BNP Paribas Fine

June 5, 2014

Associated Press

French President Francois Hollande at the G7 summit in Brussels (AP)
French President Francois Hollande at the G7 summit in Brussels (AP)

BRUSSELS - French President Francois Hollande (frahn-SWAH' oh-LAWND') says he wants to discuss with President Barack Obama a potential multibillion-dollar fine that France's largest bank is facing in the United States.

American authorities are investigating BNP Paribas for allegedly handling currency transactions through its New York office for clients in Iran, Sudan and Cuba in violation of U.S. trade sanctions.

The White House has said the Justice Department is handling the bank investigation and that Obama plans to focus on Ukraine and other counterterrorism matters when sees Holland on Thursday. The two are having dinner in Paris ahead of commemoration of the D-Day anniversary in Normandy.

But Holland told reporters travelling with Obama that he plans to raise the issue. He says it has an impact on the French and European economies.

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Original headline: Hollande says he will raise US investigation of BNP Paribas bank with Obama during dinner


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