By Brian MurphySeptember 18, 2018 05:17:20The U.S. Department of Justice announced Thursday it has terminated all contracts with four major U.K.-based banks, citing Russian interference in the U.N. General Assembly.
The move comes as the U,S.
and Europe begin to respond to a wave of sanctions against Russia imposed by the Trump administration.
“We have concluded that we have no longer been able to support the banks’ commitments to the United Nations,” a DOJ spokesman said.
The companies, which include Barclays, RBS, HSBC and Barclays Capital, were among more than 70 global banks that have severed ties with the Russian banking conglomerate Rosneft.
The U, Russia and U. S. have reached an interim agreement to cooperate in fighting international financial fraud, but the U has yet to provide a full list of sanctions and other restrictions it wants lifted.
The U.s. and the Kremlin are set to hold talks in Washington next week on ways to return to normalcy.
The Justice Department said the companies will pay “in full” for their lost work.
They will also be required to reimburse the U for the money they have lost.
The government said the bank and others had been working to resolve issues with the sanctions, including resolving issues with how much money was being transferred from the Russian government and Russian investors.
The company also said it would help develop a joint fund.
The banks were among a group of Russian banks and their U. s that the government said were linked to a $2 billion money laundering scheme that U. states and U nitals say led to billions of dollars in losses.
The companies say the money was moved through shell companies in Cyprus, the U .
K., Britain and the Netherlands.