BNP Paribas SA’s settlement talks with the U.S. over sanctions violations have reached unprecedented levels compared with previous punishments levied by the Obama administration in such cases, Bloomberg News reported yesterday. The U.S. has been said to seek more than $5 billion or even $10 billion during talks in the past month — a penalty higher than the combined $4.9 billion levied against 21 other banks for transactions tied to sanctioned countries since President Barack Obama took office. An accord of such a magnitude would eclipse BP Plc’s (BP/) record $4 billion settlement of criminal allegations last year. Prosecutors are pressuring the BNP Paribas parent company to plead guilty to moving funds for clients in violation of sanctions against Sudan, Iran and Cuba.
