• Submitted by: Juana
• Europe
• United States
• Politics and Government
• 10 / 21 / 2015

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The French Bank Crédit Agricole agreed on Tuesday to pay US authorities over one billion dollars to settle a dispute for its alleged violations of US sanctions against Cuba, Sudan and Iran. 
The total amount of the fine reached 1 billion 166 million dollars, out of which 329 million will go to the US Treasury, 90 million to the Federal Reserve, 385 million to the Financial Service Department in New York state, 156 million will be given to the Fiscal Office of Manhattan and a similar figure for a similar entity in D.C.
According to OFAC, the French bank issued 173 electronic money transfers lined to Cuba to or through US-based financial institutions for more than 97 million dollars.
Though Cuba was withdrawn from the US blacklist, the US blockade and its web of laws still ban the island from using US dollars in its international transactions.

source: www.cibercuba.com