The Barclays Bank is going to pay 298 million dollars for the settlement of the criminal charges that the bank has violated US sanctions at the time of its dealings with Sudan, Burma, Cuba, Libya and Iran.

The Bank was alleged with breaching the Trading with the Enemy Act and International Emergency Economic Powers Act in its dealings in between 1995 to 2006.

This settlement has been filed on Monday in a US court with full details. As per the reports the Barclays Bank had co-operated fully and voluntarily disclosed its transaction.

The bank has agreed to pay 149 million dollars to the government of US and a separate 149 million dollars to the district attorney of New York. A federal judge of US still has to approve the agreement of settlement.

According to the filed documents, the bank has taken full responsibility of this breach action. Earlier this month the bank said it had estimated 1498 million dollars to spend in the first half of this year in order to settle the criminal charges. As per the court documents the bank concealed its transaction with the banks of sanctioned countries.