BNP Paribas to pay £5.2bn for breaking US sanctions

Banking giant BNP Paribas has agreed to pay £5.2 billion for evading US sanctions on Iran, Cuba and Sudan.

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French minister: Deal 'protects the future of BNP'

The massive payout from BNP Paribas to US regulators will not prevent the bank from helping finance the French economy, the country's Finance Minister has said.

Michel Sapin said the deal will "protect the future" of the bank, which will "will still be able to finance economic activity (in France) in satisfactory conditions".

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