WASHINGTON—A British tobacco company has agreed to pay more than $629 million to settle allegations that it did illegal business with North Korea in violation of U.S. sanctions, the Justice Department said Tuesday.
British American Tobacco, one of the largest tobacco companies in the world, entered into a deferred prosecution agreement with the Justice Department, while the company’s Singapore subsidiary pleaded guilty to bank fraud and sanctions charges. BAT said in its own statement that the settlement concerns sales from 2007 through 2017 and that the company has since taken steps to improve its business practices.
North Korea faces stringent U.S. and international sanctions going back nearly two decades for its nuclear weapons program and development of intercontinental ballistic missiles. Pyongyang has continued to research and test more nuclear weapons. It has also worked to evade sanctions with the cooperation of allies like China and illicit trade with barred countries and companies….