NatWest reverses decision to close accounts of Kremlin-funded Russia Today network

NatWest has reversed its decision to close the UK bank accounts of Kremlin-funded news network Russia Today.

In October, the bank wrote to the company that provides RT services saying it was no longer willing to provide its bank accounts following a review and the decision was final.

However, in a statement released on Monday (30 January), NatWest said it had reversed the decision following discussions with RT.

"When issues arise, we will always try to work with our customers to seek the best possible outcome, and are pleased we have been able to do so in this case," said a spokesman for the RBS Group, NatWest's parent company.

In a statement, RT said NatWest claimed to have "followed its process correctly", and was happy to have been "able to agree a way forward after further discussions with you".

Russia Today is the English-language wing of the Kremlin's international RT network. It produces news with a heavily pro-Russian spin, and has been accused of spreading fake news and propaganda.

The network has been found to be in breach of OfCom regulations 13 times, and to have broadcast misleading reports.

NatWest's decision in October brought accusations from RT senior editor Margarita Simonyan that the closure was an attempt to stifle free speech. Russian officials threatened to target the BBC in retaliation.

In a statement, the British Treasury denied involvement in the account closures, saying that no new financial sanctions had been imposed on Russia.