In this file photo taken on March 13, 2018 shows the Unicredit headquarters in the Porta Nuova district, northern Milan. AFP / MIGUEL MEDINA
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Italy's top bank Unicredit SpA and two subsidiaries have agreed to pay $1.3 billion to U.S. authorities to settle probes of violations of U.S. sanctions on Iran and other countries, U.S. authorities said Monday. In addition, Unicredit Bank AG, the bank's German unit, agreed to plead guilty to federal and New York state criminal charges for illegally moving hundreds of millions of dollars through the U.S. financial system on behalf of sanctioned entities, the U.S. Department of Justice and Manhattan District Attorney Cyrus Vance Jr. said.Unicredit's German unit went to "great lengths" to help the Iranian shipping company evade sanctions and access the U.S. financial system, said U.S. Assistant Attorney General Brian Benczkowski.
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