Informacion economica sobre Cuba

Posted on Friday, 06.13.14

Report: BNP was warned of sanctions risk in 2006

PARIS — A leading French newspaper is reporting that lawyers for BNP
Paribas warned the French bank in 2006 that some of its transactions
could be in violation of U.S. sanctions against Iran and other countries.

The report Friday in Le Monde cited 2006 memos from at least two
American legal firms.

The bank, France’s largest, could face a multibillion dollar fine over
currency transactions for clients in Iran, Sudan and Cuba in violation
of U.S. trade sanctions between 2002 and 2009. The French government is
lobbying the U.S. to reconsider the fine, which would be among the
largest ever brought against a company.

BNP on Thursday announced the early retirement of Chief Operating
Officer Georges Chodron de Courcel, whose departure had been sought by
U.S. banking regulators.

Source: PARIS: Report: BNP was warned of sanctions risk in 2006 –
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