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

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

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

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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