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BP, U.S. Agree on $20 Billion Spill Compensation Fund

The U.S. completed negotiations with BP Plc to establish the $20 billion fund that will compensate victims of the Gulf of Mexico oil spill, the Justice Department said.

BP said today it deposited $3 billion into the escrow account, which executives at the London-based company agreed to set up on June 16 after meeting President Barack Obama and White House aides.