Director of BNP Paribas resigns under pressure from U.S. Washington is threatening the French bank with a 10 billion dollar fine and the suspension of its banking operations in the U.S. for allegedly violating sanctions imposed by the U.S. on various countries, including Cuba, Iran and Sudan.
BNP Paribas will sacrifice its director general under pressure from the U.S. stated newspaper Le Monde, while La Tribuna published an article titled, BNP Paribas: heads start to roll.
Chodron, was scheduled to retire September 30, but it was demanded that his departure be moved forward to June 30, reported PL.
Le Monde, citing the Wall Street Journal, stated that New York based banking regulator, Benjamin Lawsky, is also demanding the dismissal of advisor Vivien Levy-Garboua.
The U.S. sanctions against BNP have been rejected by the French government, as well as diverse range of directors and politicians. For Christian Noyer, governor of the Bank of France, the fine is a threat to the French economy and world financial system.
Washington’s decision has also stimulated the debate on the violation of international laws. In its attempt to impose its extra territorial laws on foreign countries, the U.S. is undermining international laws, stated former Minister of Foreign Trade Pierre Lellouche.