StanChart braces for possible new Iran fine of about $1.5 billion - Bloomberg

FILE PHOTO: A logo of Standard Chartered is displayed at the financial Central district in Hong Kong, China November 23, 2017. REUTERS/Bobby Yip - Copyright BOBBY YIP(Reuters)

By Reuters

Published on 01/10/2018 - 18:04•Updated 27/04/2024 - 02:33

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(Reuters) - British lender Standard Chartered Plc <STAN.L> is bracing for a possible new fine of about $1.5 billion linked to violations of previous Iran sanctions, a Bloomberg reporter tweeted https://twitter.com/AmberChoudhury/status/1046778971277455360.

The bank is engaged in discussions with U.S. authorities and is cooperating with the investigation about compliance with historical sanctions, a Standard Chartered spokeswoman said.

(Reporting by Kanishka Singh in Bengaluru; Editing by Saumyadeb Chakrabarty)

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