MasterCard, Visa Cut Off Some Russian Banks Over U.S. Sanctions
 

MasterCard, Visa Cut Off Some Russian Banks Over U.S. Sanctions
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In an echo of the Cold War, MasterCard and Visa have stopped processing payments by some Russian banks after the U.S. issued sanctions over Russia's recent annexation of Crimea.

A MasterCard rep says the brand has pulled out of Rossiya, Sobinbank and SMP Bank, but is still doing business with all other Russian banks. Reps from Visa could **t be reached for commentRT reports that Visa has also cut off SMP Bank, Sobinbank and Investcapitalbank. Both credit card companies are ** longer working with Rossiya Bank. The latter issued a statement apologizing to users

"The management of Rossiya understands the difficulties of clients in the current situation and will do all it can to solve them," the bank said in a statement to RT. Read more...

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