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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