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Thu Jul 3, 2014, 01:34 PM

Cuba criticizes $9B US fine for French bank

Source: Associated Press

Cuba criticizes $9B US fine for French bank
3:35 AM Friday Jul 4, 2014

HAVANA (AP) Havana on Thursday protested U.S. penalties levied against France's largest bank over allegations it processed financial transactions for Cuba and other blacklisted states in violation of U.S. trade sanctions.

In a statement published by Cuban official media, the Foreign Ministry said the penalties "violate the rules of international law and qualify as an extraterritorial and illegal application of American legislation against a foreign entity."

The U.S. Justice Department announced Monday that BNP Paribas had agreed to pay nearly $9 billion to settle the case. Under the deal, the Paris-based bank entered a guilty plea in a New York Court and acknowledged processing billions of dollars in transactions for clients in Cuba, Sudan and Iran.

U.S. prosecutors said the transactions were handled by BNP's New York branch office from at least 2004 through 2012.

"Sanctions are a key tool in protecting U.S. national security interests, but they only work if they are strictly enforced," Attorney General Eric Holder said earlier this week. "If sanctions are to have teeth, violations must be strictly punished."

Read more: http://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=11287306

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Reply Cuba criticizes $9B US fine for French bank (Original post)
Judi Lynn Jul 2014 OP
gussmith Jul 2014 #1
Richardo Jul 2014 #2
dipsydoodle Jul 2014 #3
Judi Lynn Jul 2014 #4
Xolodno Jul 2014 #5
genwah Jul 2014 #6

Response to Judi Lynn (Original post)

Thu Jul 3, 2014, 01:38 PM

1. Don't You Know

 

that anything the USA does to protect itself is offensive to some (most) parts of the world.

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Response to Judi Lynn (Original post)

Thu Jul 3, 2014, 01:41 PM

2. Well that's all the validation I need to know we did the right thing.

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Response to Judi Lynn (Original post)

Thu Jul 3, 2014, 05:34 PM

3. You will find elsewhere

that the US tried to do deal with France. Lower fine if France blocked the delivery of the Mistrals to Russia.

France wouldn't play ball.

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Response to dipsydoodle (Reply #3)

Thu Jul 3, 2014, 05:40 PM

4. Really! Would never have known without seeing your post. Thank you, dipsydoodle. n/t

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Response to Judi Lynn (Original post)

Thu Jul 3, 2014, 05:41 PM

5. So why do we have this stupid and useless embargo again?

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Response to Xolodno (Reply #5)

Thu Jul 3, 2014, 09:12 PM

6. What few Rethuglican votes that are left to be had. The Rs are losing the demographic race

in Miami's Cuban-American community, just as it is everywhere else. However, if the House isn't going to pass a highway bill, much less a comprehensive immigration bill, the last thing we'll see is trade relation reform with Cuba. Which is really too bad, because Cuba "exports" a huge number of primary care and "third world support adaptable" physicians and nurses to other south and central American countries. Think of what TX, MS, GA could do with doctors and nurses trained to provide health care with minimal support on a shoestring budget!

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