Obama says he won't meddle in BNP Paribas case

BRUSSELS — President Obama said Thursday he won't get involved in a U.S. investigation of a major French bank but said American-French relations "have never been stronger."

"The tradition of the United States is that the president does not meddle in prosecutions," Obama said during a news conference after the G-7 summit. He said he will deliver the same message to French President Francois Hollande during a dinner Thursday night in Paris.

Hollande said he would speak with Obama about the investigation of BNP Paribas, saying, "It has an impact on the French economy and the European economy."

The investigation focuses on evidence the French banking giant did business with Iran, Sudan, Cuba and other nations, in violation of U.S. financial sanctions.

Prosecutors from the U.S. Department of Justice are working with the New York Department of Financial Services and the Manhattan District Attorney's office in reviewing evidence that shows many of the suspect transactions were routed through the French bank's U.S. divisions.

Obama, speaking at a news conference alongside British Prime Minister David Cameron, said, "I do not pick up the phone and tell the attorney general how to prosecute cases that have been brought. I do not push for settlements of cases that have been brought."

He said, "Those are decisions that are made by an independent Department of Justice."

Obama said he has communicated that to Hollande. "Perhaps it is a different tradition than exists in other countries," he said, "but it is designed to make sure that the rule of law is not in any way impacted by political expediency."

When U.S. attorneys make final decisions, Obama said, "I'll read about it in the newspaper just like everybody else."

Obama said he looked forward to his Paris dinner with Hollande.

"The relationship between the United States and France has never been stronger," Obama said.

The U.S.-based investigators have continued settlement negotiations with BNP Paribas representatives in recent days and have seen no indications of any White House involvement, said a person familiar with the investigation. The person spoke on condition of anonymity because the investigation findings have not been formally disclosed.

Along with financial fines, U.S. investigators and bank officials are negotiating over a possible suspension of U.S. dollar clearing by the bank, termination of BNP Paribas employees responsible for the sanctions violations and the terms of an expected guilty plea, the person familiar with the investigation said.

Contributing: Kevin McCoy in New York