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- Iran: ‘Sustainable Security 2019’ kicks off in Caspian Sea
- Iran’s Zarif leaves Tehran for Moscow
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- Japan’s Abe to meet Iran’s president to discuss easing tension in region
- Downing of US spy drone shattered war threats against Iran: Top IRGC commander
- IAEO head reports development of first ion-therapy hospital in west of Asia
- Iranian Taekwondo team wins 2019 World Cup championship
- US sanctions failed to force Iran to buckle: Report
- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
- Iran saffron exports down due to smuggling, government restrictions: Exporter
- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
- Iran’s resistance policy led to release of oil tanker: MP
- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
- Iranian court hearing case of UK oil tanker
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- US anti-Iran policy in high seas harms Europeans: LA Times
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- Iran warns US against seizure of oil tanker
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- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
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- Iran, Iraq agree to reopen Khosravi border crossing
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- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
- Adrian Darya oil tanker not under any sanctions, says Iran envoy
- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
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- Iranian scientist discovers new state of matter
- Iran, Japan diplomats discuss bilateral ties
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- Spokesman rejects claim on Iran’s commitment in exchange for tanker release
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- Israel, UAE engaged in secret talks on Iran arranged by US: Report
- US threatens visa ban as Iranian-operated tanker sets to sail from Gibraltar
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- Gibraltar releases Iran-operated tanker despite US pressure
TEHRAN, Apr 10 - London-based Standard Chartered has been fined $1.1 billion by US authorities for allegedly breaching sanctions against Iran and other countries.
TEHRAN, Young Journalists Club (YJC) - The fine is one of the largest imposed on a bank since France’s BNP Paribas had to pay $8.9 billion in penalties in 2014 over alleged sanctions violations.
It is also the largest paid by Standard Chartered since 2012, when it had to cough up $667 million in order to settle US allegations of sanctions breaches between 2001 and 2007.
The British bank was reportedly made to pay $947 million to American agencies over allegations that it violated sanctions against a string of countries, including Iran.
It was fined a further $190 million for flouting anti-money laundering requirements related to funds used to finance terrorism, including Daesh.
The fine related to Iran reportedly included Standard Chartered’s processing of transactions between 2009 and 2014 from the bank’s Dubai branch.
After milking billions of dollars from European banks for processing Iranian transactions, US authorities were said early last year to be targeting lenders in South Korea, Taiwan, China and elsewhere.
The shift underscored the US administration’s disdain for a landmark nuclear deal which should have paved the way for Iran’s reconnection to the international banking system.
At least two South Korean banks were facing legal action in Alaska and New York courts over Iran-related business, Bloomberg reported at the time, citing court documents and testimony.
Years of Washington’s scrutiny of European banks’ transactions with Iran have resulted in nearly a dozen enforcement cases which have extracted more than $16 billion in fines for the US government.
Other British banks penalized by US authorities include RBS, which was slapped with a $10 billion fine over the alleged mis-selling of mortgage-backed securities. In 2012, HSBC paid a fine of $1.9 billion to settle US money-laundering allegations.
Source: Presstv
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