‘BNP Paribas penalty costs Belgian state at least €400 million’

Published on 30 June 2014 at 09:28

Cover

The huge fine that BNP Paribas will get today from the US authorities (probably around 6,5 billion euro) will be a “financial setback” for Belgium, writes De Morgen. The Belgian state will have to pay at least €400 million, since it is a large shareholder of France’s biggest bank. BNP Paribas is being fined because it allegedly transferred billions of dollars on behalf of Sudan and other countries blacklisted by the US. According to US media the bank will plead guilty today in New York. The US Justice departement will announce the exact amount of the fine later today.

Tags

Was this article useful? If so we are delighted!

It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.

Discover our subscription offers and their exclusive benefits and become a member of our community now!

Are you a news organisation, a business, an association or a foundation? Check out our bespoke editorial and translation services.

Support independent European journalism

European democracy needs independent media. Join our community!

On the same topic