Visa and MasterCard suspended operations in Russia
World bank card giants Visa and Mastercard have announced that they are suspending operations in Russia after the invasion of Ukraine, which will prevent cards issued in Russian banks from being used abroad and the use of cards issued abroad in Russia.

“Due to the current unprecedented conflict and the uncertain economic environment, we have decided to suspend our network of services in Russia,” MasterCard said in a statement, adding that it will continue to pay its 200 employees in that country.

At the same time, the rival company Visa stated in a separate statement that it will work with its clients and partners in Russia to terminate all Visa transactions in the coming days.

Visa and MasterCard bank cards issued in Russia are no longer valid abroad and cards issued abroad no longer work in Russia, the two companies said.

Visa and MasterCard, as well as their rival American Express, have already taken measures to prevent Russian banks from using their networks by applying international financial sanctions imposed after the start of the invasion of Ukraine.

The Bank of Russia stated that all Visa and MasterCard cards issued in Russian banks will continue to function normally on Russian territory until they expire.

“The national bank card system manages operations with those cards and sanctions have no effect,” the Russian central bank said.

However, the Central Bank recommended that Russians who go abroad bring cash or the Russian bank card Peace for several countries and territories where it is accepted.

Russia’s largest bank, Sberbank, has also confirmed through its Telegram account that the Visa and MasterCard cards it issued can be used in Russia.

By Editor

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