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US: UniCredit pays US $ 1.3 billion for US sanctions

Announced that UniCredit will pay US $ 1.3 billion to US authorities to avoid prosecution in violation of US sanctions against Iranian banks, Cuba, Libya and Sudan. Monday the Treasury Department.

According to the US Treasury Department, "UniCredit" prioritized its interests by complying with sanctions and security by engaging in multi-billion dollar transactions with customers in sanctioned countries such as Iran. "Libya, Cuba" .

The three branches of UniCredit, Germany, Austria and Italy, have expressed concern over these lawsuits filed by the New York Department of Treasury, the Treasury Department, as well as the banking regulator, the Federal Reserve. .

New York Financial Services decided that between 2002 and 2011, Unicredit AG created 2,570 opaque transactions and paid US $ 5.4 billion to organizations or countries authorized by the United States.

Italian banks used American financial institutions as intermediaries in these transactions.

The Treasury Department said that during this period, UniCredit managed the dollar account of the Iranian shipping company IRISL.

UniCredit has been indicted for payment by 2012 to its confidential destinations, such as Burma, Cuba, Iran, Libya, Sudan and Syria, along with its Austrian and Italian subsidiaries. US administration.

Of the $ 1.3 billion penalty to be paid to the US authorities, the Treasury asked for $ 611 million, the New York Financial Services team for $ 40.5 billion, and the Federal Reserve for $ 158 million.


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