Swiss Government Backs BNP Paribas in U.S. Court Case Over Sudan Genocide

The Swiss government has formally requested a review of a U.S. court judgment that found French bank BNP Paribas complicit in Sudanese atrocities through its Geneva subsidiary.

Swiss Government Backs BNP Paribas in U.S. Court Case Over Sudan Genocide

The Swiss Federal Council has taken a public stance in support of French banking giant BNP Paribas as it battles a damaging court ruling in the United States. The Swiss executive formally asked for a review of the judgment handed down last autumn by a New York court against the financial institution, reports Le Temps.

In mid-October, a jury in New York found BNP Paribas guilty of aiding and abetting atrocities in Sudan. The jurors concluded that the bank's ongoing financial ties to the African nation had indirectly propped up the genocidal regime led by Omar al-Bashir, who ruled Sudan from 1989 until 2019.

The court ordered the bank to pay over 20 million dollars in damages to three Sudanese plaintiffs who had sought refuge in the United States. BNP Paribas has since filed an appeal against the verdict.

Switzerland's involvement stems from the fact that the disputed transactions flowed through the French lender's Geneva branch. This is why Bern has stepped into the appellate proceedings, driven by its own legal and economic interests.

The federal government's intervention comes at a time when American courts are increasingly applying extraterritorial sanctions against foreign corporations. For Bern, a final conviction could carry consequences for the standing of the Swiss financial center on the global stage.

Source: Le Temps