Commerzbank will pay U.S. authorities $1.45 billion to resolve sanctions and other violations, the latest big European bank to acknowledge moving funds through the U.S. financial system for countries like Iran and Sudan.
Asked on Friday whether UniCredit could be the next lender to agree to a settlement, its CEO Federico Ghizzoni told reporters: „I cannot answer. There is utmost confidentiality.“(…)
A number of big foreign banks have been penalized for sanctions-related violations in recent years, settling at a cost of some $12 billion. French bank BNP Paribas paid the bulk of that, forfeiting a record-breaking $8.9 billion last year.