Visa, Mastercard and American Express have blocked their services to Russian banks affected by the sanctions

Russians form long queues at banks to withdraw money, fearing the collapse of the entire banking system (Reuters)

American payment card companies Visa and Mastercard have banned several Russian financial institutions from their network, in compliance with government sanctions imposed by Moscow’s invasion of Ukraine..

visa On Monday, it announced that it was taking swift action to ensure compliance with applicable sanctions, adding that it would donate $2 million to humanitarian aid. Master Card Credit Card He also promised to contribute $2 million.

We will continue to work with regulators in the coming days to fully comply with our compliance obligations as they evolve.“, He said Master Card Credit Card In a separate statement late on Monday.

State sanctions require it visa Suspend access to your network for entities that appear in a list Specially Designated Nationalssaid to Reuters A source familiar with the matter. United State He added to the list several Russian financial companies, including the country’s central bank and the second largest, VTB.

Visa and Mastercard announced that they will no longer operate their services in banks subject to sanctions by the United States and the European Union (Reuters)
Visa and Mastercard announced that they will no longer operate their services in banks subject to sanctions by the United States and the European Union (Reuters)

Meanwhile this Tuesday American Express has joined the list of large multinational companies that have severed ties with Russia, After Vladimir Putin ordered the entry of Kremlin forces into Ukraine.

Since the beginning of this crisis, We have complied with US and international sanctions, which have resulted in the suspension of relations with the affected banking partners in RussiaWe will continue to comply with all relevant laws as the situation evolves. Chairman and CEO Stephen Squire, expressed in a memorandum to employees obtained by Yahoo Finance.

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Saturday, United StateAnd the United kingdomAnd the Europe And the Canada New sanctions announced against Russiaincluding blocking some banks from accessing the international payment system Swift.

Many Russians rushed to ATMs and lined up in long lines on Sunday and Monday, fearing bank cards would stop working or that banks would limit cash withdrawals.

Russia Rate your actions Ukraine From “special operation“.

Many Western banks and airlines have cut ties with it RussiaHe described the country’s behavior as unacceptable. European countries and Canada closed their airspace to Russian aircraft.

(C) Reuters. –

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