Italian bank UniCredit will pay $1.3 billion (1.5 billion euros) to repay costs from the U.S. government which it violated sanctions against Iran and other countries.
UniCredit, that operates in several European nations, said Tuesday its German subsidiary, UniCredit Bank AG, agreed to plead guilty in U.S. federal court to sanctions violations involving Iran.
A U.S. Depart of all Treasury announcement said the fine resolves an investigation by its foreign assets control office into violations of U.S. sanctions, such as related to this proliferation of weapons of mass destruction.
UniCredit said it’d reserved provisions .