US seeks to fine BNP $10 bn for breaking sanctions
The United States is
seeking more than $10 billion from French bank BNP Paribas to settle charges it
violated US sanctions on Iran, Sudan and Cuba, the Wall Street Journal reported
Thursday.
Citing people familiar with the negotiations between the
bank and the Justice Department, the newspaper said the two sides are still
locked in talks, and that BNP wants to pay less than $8 billion, reports AFP.
Both numbers are far higher than earlier reports of less
than $4 billion, and would far outpace the $1.9 billion British bank HSBC was
fined in 2012 for routinely handling money transfers for countries under
sanction and for Mexican drug traffickers.
The Journal said a final resolution of the BNP case, which
related to the bank's activity in 2002-2009, is "likely weeks away."
It said the two sides are still arguing over whether the
bank, as part of its punishment, will be temporarily denied the right to
transfer money into and out from the United States, an important part of any
foreign bank's business in the US.
The report said Justice Department prosecutors continue to
press the bank to plead guilty to the charges, which theoretically could risk
its US banking license.
But in a separate case last week involving a bank helping
thousands of Americans avoid taxes, Switzerland's Credit Suisse pleaded guilty
to one felony charge and was fined $2.6 billion, but was allowed to keep its
banking license.
That was the first time in 20 years a major bank has been
convicted on US criminal charges.
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