State Department says Karnakis & Karnakis 'set up shell companies' to hide origin of Iranian ships, allowing Tehran to sell millions of barrels of oil; firm does not comment

The Trump administration is pitching the idea as part of a peace deal with Ukraine, but Europe is wary and critics say Russia would be strengthened.

© Alexander Manzyuk/Reuters

The fines on America's second-biggest bank amount to the third-largest in the department's history.