WASHINGTON (AP) — Clearstream Banking SA, a division of a German securities exchange, has agreed to pay $152 million to settle U.S. government claims that it allowed Iran to skirt U.S. sanctions by providing the country access to the American banking system.

The Treasury Department’s Office of Foreign Assets Control announced the settlement Thursday with Clearstream, the Luxembourg-based clearinghouse that is part of Deutsche Borse. Clearstream continued to channel Iranian government holdings of securities from the U.S. to Iran after telling U.S. regulators in late 2007 and early 2008 that it had decided to end business with Iranian clients, OFAC said.