France - US fine for BNP should be fair, measured

France: US fine for BNP should be fair, measured
THE ASSOCIATED PRESS

PARIS -- The French economy minister is urging U.S. authorities to be
"fair and proportionate" when deciding on a potential
multibillion-dollar fine against France's largest bank over its
activities in countries Iran, Sudan and Cuba.

Arnaud Montebourg, speaking on BFM television Monday, said the U.S. has
an unfair advantage in the global "economic war" because of a law
allowing prosecution of foreign companies for activities outside
American soil.

BNP Paribas SA is under investigation for currency transactions through
its New York office for clients in Iran, Sudan and Cuba in violation of
U.S. trade sanctions.

Montebourg would not comment on a Wall Street Journal report that BNP
and U.S. prosecutors have agreed to a deal involving a fine of $8
billion to $9 billion.

BNP's shares fell Monday morning in Paris trading.

Source: PARIS: France: US fine for BNP should be fair, measured - World
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