US, BNP Paribas 'near to agreement' over Sudan fine

Fine for alleged sanctions violations might be reduced to around $6 billion.

US, BNP Paribas 'near to agreement' over Sudan fine

World Bulletin / News Desk

BNP Paribas and U.S. prosecutors are reportedly close to an agreement on the payment of multi-billion-dollar fines over alleged violations of U.S. sanctions against Sudan by the French lender.

French TV channels announced Monday that BNP Paribas would make a deal with U.S. courts by paying a fine of between $5.9 billion and $6.6 billion.

This is less than a previously expected amount of $7.35 billion which created tensions between French and U.S. presidents ahead of a June 6 gathering in France to commemorate the 70th anniversary of D-Day landings.

The economic sanctions were imposed on Sudan by the U.N. Security Council over the genocide committed in country's Darfur region, the Wall Street Journal reported Monday.

In recent years, the U.S. has been revising financial transactions with sanction-imposed countries. It investigated BNP Paribas for a purported violation of an embargo which blocked the assets of Sudanese citizens implicated in the Darfur violence, and also sanctioned additional companies owned or controlled by the government of Sudan between 2002 and 2009.

On April 7, French President Francois Hollande wrote a letter to Barack Obama, calling on American courts to approach the matter "reasonably," stressing the probable fine was out of proportion.

BNP Paribas could also face a possible loss of its banking license in the U.S., meaning it would not be able to deal in dollars.

Güncelleme Tarihi: 23 Haziran 2014, 15:34