07:21 AM EDT, 06/17/2024 (MT Newswires) -- Barclays ( JJCTF ) said Friday it agreed to suspend its sponsorship of the 2024 Live Nation festivals in response to what it described as online harassment of employees and vandalism of its branches over demands it halt banking services for defense contractors.

The bank said it was asked by concert series organizers to step back from Live Nation. Reuters reported that several artists canceled scheduled appearances at the event over the bank's sponsorship.

In a statement, a Barclays ( JJCTF ) spokesperson defended its decision to "provide vital financial services to US, UK and European public companies that supply defense products to NATO and its allies."