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France: U.S. $10 Billion Fine On BNP Paribas 'Unreasonable'

Published June 3, 2014 at 1:46 PM EDT
A BNP Paribas advertisement sits atop a building on Broadway June 2 in New York. BNP Paribas faces a potential fine of up to $10 billion USD for breaking sanctions imposed by the U.S. government on Iran. The fine would be the largest imposed on a bank by US. regulators for sanctions-breaking, and one of the largest regulatory fines in history. (Don Emmert/AFP/Getty Images)
A BNP Paribas advertisement sits atop a building on Broadway June 2 in New York. BNP Paribas faces a potential fine of up to $10 billion USD for breaking sanctions imposed by the U.S. government on Iran. The fine would be the largest imposed on a bank by US. regulators for sanctions-breaking, and one of the largest regulatory fines in history. (Don Emmert/AFP/Getty Images)

The U.S. is investigating whether France’s largest bank, BNP Paribas, violated sanctions on Sudan, Iran, and Syria between 2002 and 2009.

France’s foreign minister, Laurent Fabius, says the reported $10 billion fine on BNP Paribas is not reasonable. This comes as President Obama is about to visit France for talks with French President Francois Hollande.

The Wall Street Journal’s Jason Bellini tells Here & Now’s Robin Young about the situation.

Guest

  • Jason Bellini, senior producer at The Wall Street Journal. He tweets @jasonbellini.

Copyright 2021 NPR. To see more, visit https://www.npr.org.

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