NEW YORK — Mastercard and Visa are suspending their operations in Russia, the companies said Saturday.
Join our WhatsApp groupSubscribe to our Daily Roundup Email
Mastercard said cards issued by Russian banks will no longer be supported by its network and any card issued outside the country will not work at Russian stores or ATM in the latest blow to the country’s financial system after its invasion of Ukraine.
Mastercard said it made its decision after discussions with customers, partners and governments.
Visa said it’s working with clients and partners in Russia to cease all Visa transactions over the coming days.
The suspensions are a follow-up to more limited moves earlier in the week to block financial institutions from the networks that serve as arteries for the payments system. Russian people have already been hit hard by heavy sanctions and financial penalties imposed by the U.S. government and others.
Sure world banks closed to door last week now these cowards open their mouth. But why isn’t Biden shutting down outings only money source oil no oil mink money no war But hey when families in payroll ……