Share

After Bnp Paribas, three other German and two French banks are at high risk of US maxi-sanctions

After the maxi-fine imposed by the American authorities on Bnp Paribas for dealings with rogue states, five other European banks risk heavy fines – Three are German: Commerzbank, Deutsche Bank and HypoVereinsbank (today Unicredi Bank Ag) – Two more are French: Societé General and Credit Agricole

Americans don't give discounts to banks that do business with rogue states. After the maxi-fine imposed on the French Bnp-Paribas, which will have to pay a record sum ranging between 8 and 9 billion dollars, five other European banks have ended up in the sights of the American authorities.

Among the banks under fire, two are French: Societè Generale and Credit Agricole.

Three German banks are awaiting a US verdict: Commerzbank, Deutsche Bank and the former HypoVereinsbank, now Unicredit Bank Ag, controlled by the Italian banking group led by Federico Ghizzoni and accused of having provided financial support to an Iranian group under embargo.

In the near future, there will be surprises and fines will come back.

comments