Russian Banks Blocked From, Visa and Mastercard, Networks Following Sanctions.
CNBC reports that both Visa and Mastercard have blocked financial institutions from their networks in response to Russia's invasion of Ukraine. .
CNBC reports that both Visa and Mastercard have blocked financial institutions from their networks in response to Russia's invasion of Ukraine. .
Since the invasion began, the U.S. and other global
leaders have imposed sanctions aimed at shutting
Moscow out of the global financial system. .
Since the invasion began, the U.S. and other global
leaders have imposed sanctions aimed at shutting
Moscow out of the global financial system. .
According to CNBC, those sanctions effectively
blocked U.S. companies and individuals from
doing business with any entity on the sanctions list. .
On February 28,
the U.S. imposed additional
sanctions on Russia's central bank. .
The same day, Mastercard announced
that it had blocked several Russian financial
institutions from its payment network. .
Mastercard did not name any blocked
companies or individuals by name. .
We will continue to work
with regulators in the days
ahead to abide fully by our
compliance obligations
as they evolve, Mastercard statement, via CNBC.
On March 1, Visa followed suit and released
a statement saying that the company
had blocked those on the U.S. sanctions list. .
CNBC reports that both of the competing
credit giants also pledged $2 million toward
humanitarian relief funds for besieged Ukraine. .
On February 26, the U.S., Canada and European
allies vowed to remove Russian banks
from the interbank messaging system, SWIFT. .
The broad range of sanctions have resulted
in the Russian ruble plunging in value.