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BNP, tax evasion: US still dictates its economic law

Photo taken on June 24, 2014 in Lille, northern France shows the logo of the French bank BNP ParibasAlthough its diplomatic clout is compromised on several fronts, the United States still dictates its economic law around the globe and has even expanded its reach, at the risk of raising hackles. The case of BNP Paribas is the most spectacular evidence of the trend. After lengthy negotiations, France’s largest bank agreed to pay $8.9 billion and pleaded guilty to moving billions of dollars through the US financial system on behalf of Cuba, Iran, Myanmar and Sudan, all blacklisted by US economic sanctions.

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