Published On: Thu, Jun 5th, 2014

France’s foreign minister rejects US fine on French bank for alleged violation of Cuba sanctions

France's Foreign Affairs Minister Laurent Fabius attends a news conference after a bilateral meeting at San Carlos Palace in BogotaHAVANA, Cuba - French foreign minister Laurent Fabius described as unfair, unilateral and irrational a $10 billion fine that Washington intends to impose on BNP Paribas bank for alleged violations of US economic sanctions against countries such as Cuba, Sudan and Iran.

The sum imposed by US authorities is unreasonable and poses a very serious problem, Fabius told French television. He said that such a fine could have a devastating effect on French economy, in the event it is confirmed.

The foreign minister said that the French government will defend the interest of BNP Paribas with US authorities.

Observers say that the issue could be on the menu of a dinner scheduled for Presidents Francois Holland and Barack Obama on Thursday, on the eve of celebrations for the 70th anniversary of the 1944 allied landings in Normandy.

Ministers, former government officials and analysts have also expressed their rejection of the US sanctions against the French bank.

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