Qatar Sues Banks For 'Brazen' FX Rig Tied To Saudi Embargo

Law360, London (April 8, 2019, 10:43 PM BST) -- Qatar sued three banks in London and New York on Monday for billions of dollars for allegedly running a “brazen scheme” to rig local currency and bond markets and sabotage its hosting of the World Cup during a Saudi embargo of the Gulf state.

The Middle Eastern country accused Luxembourg-based Banque Havilland SA, the United Arab Emirates’ First Abu Dhabi Bank and Saudi Arabia’s Samba Bank of attempting to destabilize Qatar through “a campaign of financial warfare,” according to the New York state suit. Banque Havilland was involved in a plan to attack Qatar’s currency and its financial markets, Qatar says...

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