A US court sentenced the French company BNP Paribas to a record fine and imposed other penalties for helping foreign countries sanctioned to process transactions through the US financial system in violation of US federal laws, the New York Attorney�s Office announced in a statement.

WASHINGTON (Sputnik) � BNP Paribas pleaded guilty in 2014 for conspiring to violate the International Emergency Economic Powers Act and the Trading with the Enemy Act by processing more than $8 billion through the US financial system on behalf of Sudanese, Iranian and Cuban entities subject to US economic sanctions.

Bharra explained that that BNPP did so �deliberately and secretly, in ways designed to evade detection by the US authorities.�

According to the statement, BNPP�s sentencing is the first time a major financial institution has been convicted and sentenced for violating US economic sanctions.

�BNPP, the world's fourth largest bank, has now been sentenced to pay a record penalty of almost $9 billion for sanctions violations that unlawfully opened the US financial markets to Sudan, Iran and Cuba,� US Attorney for the Southern District of New York Preet Bharara said in the statement.

The French company was also sentenced to five-year probation in the United States.

By Sputnik News