Record $9b fine for European bank

BNP Paribas, France’s biggest bank, is about to receive the biggest penalty ever paid by a European bank over violations of sanctions.

The bank will be fined with record $9 billion because it didn’t respect a US embargo on financial transactions with Iran, South Sudan and Cuba during the 2002 - 2009 period.

Furthermore, the US Justice Department could prohibit some divisions of BNP from commencing any trading activities.

France’s sole request was that the fine to be ‘fair.’