Judge approves Barclay's deal with US Justice Department

A judge who questioned whether Barclays Bank was getting off too easily nonetheless approved a deal likely to enable the bank to avoid prosecution over claims that it engaged in $500m (€390.4m) in illegal transactions with banks in Cuba, Iran, Libya, Sudan and Burma for more than a decade.

Under the arrangement with the US Justice Department, Barclays will pay $298m (€232.6m) – half of it to the United States and the rest under an agreement with the Manhattan district attorney’s office in New York.