Swedbank has reached a settlement deal with the US government to pay a fine over transactions with a Crimea-based shipowner.
The Swedish banking group, which has a major presence in Baltic nations, said the agreement will see it pay SEK 37m ($3.45m) in fines over what it described as its “historical shortcomings” that violated US regulations.
The US Treasury Department’s Office of Foreign Asset Control (Ofac) concluded that transactions disclosed by Swedbank to Washington were in violation of sanctions rules, the company said.
