The person described the deal as imminent, but said it was not exactly clear when it would be publicly announced. The person spoke only on condition of anonymity because no agreement had yet been finalized.
BNP Paribas, SA, France's largest bank, has been under investigation for financial transactions through its New York office for clients in Iran, Sudan and Cuba in violation of U.S. trade sanctions. A report by the Wall Street Journal said the bank intentionally hid $30 billion in such transactions, by far more than in any such case so far.
The French economy minister, meanwhile, urged the U.S. Department of Justice to be "fair and proportionate" when deciding on the potential fine. Arnaud Montebourg, speaking on BFM television Monday, said the U.S. has an unfair advantage in the global "economic war" because of a law allowing prosecution of foreign companies for activities outside American soil.