US credit card companies Visa and Mastercard have moved to implement sanctions imposed on Russia after the invasion of Ukraine, which prevent Russian banks from using their network.
MasterCard “blocked multiple financial institutions” in your payment network “in response to orders imposing sanctions”, indicated the general director of the firm in a message published on Monday night.
“We will continue to work with regulators in the coming days to fully respect our obligations”, maintained Michael Miebach.
Visa on your side stated on its website that “promptly takes steps to ensure compliance with applicable sanctions”.
The group notes that it is “ready to comply with additional sanctions that may be implemented”.
The United States and several Western countries have adopted sanctions against large Russian banks and individuals.
For credit card issuers, this implies suspending the access of sanctioned entities to their network.
Source: Gestion
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