France's Finance Minister Sorry BNP Paribas Showed Flagrant Disregard For Law He's Not Sure Bank Really Needed To Follow

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France's finance minister said on Sunday that talks between BNP Paribas (BNPP.PA) and U.S. authorities over a potential fine for the bank for breaching U.S. sanctions had progressed towards a "more equitable" level. U.S. authorities - five of them in all, including the New York financial regulator - are investigating whether BNP evaded U.S. sanctions against Iran and other countries between 2002 and 2009..."What is being criticized by the U.S. authorities is the violation of a strictly American law. The same acts committed in France in euros would not have been reprehensible," [Michel] Sapin said. "That said, it is the American law, it should have been respected." [Reuters, related]

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