France’s biggest bank BNP Paribas is expected to pay a record nine billion dollar or six point five billion euro fine over alleged sanctions breaches following an out-of-court deal. <br /><br />The US Justice Department could also ban some some divisions of the bank from trading.<br /><br />It is expected to plead guilty to a criminal charge in New York’s Manhattan Federal Court on Monday.<br /><br />BNP has been accused of not respecting a United States embargo on financial transactions with Iran, South Sudan and Cuba between 2002 and 2009. <br /><br />The fine would be the largest penalty ever paid by a European bank for violations of sanctions imposed by the Office of Foreign Assets Control. <br /><br />France has asked that the fine to be “fair”.
