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BNP Paribas Allowed To Do The Thing That Will Cost It 10 Figures Until It Actually Pays Those 10 Figures

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BNP’s Teheran office can stay open for a little longer.

U.S. Treasury officials granted BNP Paribas permission to do limited business in Iran earlier this year, as federal prosecutors were negotiating a potentially stiff penalty to resolve the French bank's alleged violations of U.S. sanctions against Iran, Sudan and other countries, according to government records reviewed by The Wall Street Journal.

BNP Paribas was granted two licenses allowing the bank to conduct certain commercial and financial transactions in Iran, according to documents obtained through a Freedom of Information Act request….

It is unclear why BNP sought the Iran licenses or why Treasury officials granted them at a time when authorities were seeking to punish the bank over alleged sanctions violations in that country. Treasury declined to comment.

U.S. Granted BNP Iran Licenses During Penalty Talks [WSJ]