FRANCE

French PM Hollande wants to discuss multibillion-dollar BNP bank fine with Obama

Francois Hollande plans to broach the subject of huge US fines on France's largest bank when he meets president Barack Obama on the fringes of the D-Day anniversary celebrations

PUBLISHED : Thursday, 05 June, 2014, 4:37pm
UPDATED : Thursday, 05 June, 2014, 4:37pm

French President Francois Hollande says he wants to discuss with President Barack Obama a potential multibillion-dollar fine that France’s largest bank is facing in the United States.

American authorities are investigating BNP Paribas for allegedly handling currency transactions through its New York office for clients in Iran, Sudan and Cuba in violation of US trade sanctions.

The White House has said the Justice Department is handling the bank investigation and that Obama plans to focus on Ukraine and other counterterrorism matters when sees Hollande on Thursday. The two are having dinner in Paris ahead of commemoration of the D-Day anniversary in Normandy.

But Hollande told reporters travelling with Obama that he plans to raise the issue. He says it has an impact on the French and European economies.