France’s largest bank has agreed to pay nearly $9bn (€6.5bn) to resolve criminal allegations that it processed transactions for clients in Sudan and other blacklisted countries in violation of US trade sanctions, the Justice Department says.

BNP Paribas, France’s largest bank, is cutting 1,600 jobs at its Ukrainian unit, or more than 20% of the workforce, as the country faces mounting unrest and a standoff with Russia.