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Washington Forces France to Pay $800 Million for Violation of US Sanctions

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French bank Credit Agricole was accused by Washington of dealing with countries under US embargo and processing financial transactions for Sudan, Cuba and Iran through the United States. Several bank employees responsible for the transactions have already been fired, media reported.

The bank agreed to pay $800 million in fines for the illegal financial transactions carried out in the period from 2003 to 2008 on the territory of the United States, AFP reported, referring to a source familiar with the situation.

According to previous estimations, the bank had to pay US $900 million, but the amount was reduced through the course of negotiations.

The agreement may be announced this week, the source said. The bank is expected to fully recognize its guilt in violating US laws which would help it to avoid any prosecution. According to the source, some of the bankers responsible for the offense have already been dismissed.

Last year, French bank BNP Paribas agreed to pay $8.97 billion dollar fine for violation of the sanctions regime against Cuba, Sudan and Iran.

The difference in the amount of the fines arises from the fact that the financial transactions carried out by Credit Agricole were smaller and that the bank agreed to cooperate with the authorities in a quicker manner.


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4 Responses to " Washington Forces France to Pay $800 Million for Violation of US Sanctions "

  1. Lone Ranger says:

    The U.S. economy must run on fumes if they really have to bend over the french and take their pocket money,lol.
    hollande and the french showing the World again what true resistance looks like hahaha:)

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  2. nick1111 says:

    Stupid French lakeys kissing US ass

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  3. LarryNC says:

    I think the French should just tell Washington to go F@ck themselves. The entire rest of the world needs to tell the u.s. to go to hell and that they do not run the entire frigging world.

    I am an american, but I honestly think that our government is one of the worst evils in the world.

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    • TJ says:

      You must watch CNN a lot.

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