Mastercard disconnected a number of Russian banks from its payment system

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Mastercard disconnected a number of Russian banks from its payment system
Mastercard disconnected a number of Russian banks from its payment system
1 March, 09:45EconomyPhoto: 1MI
Several Russian financial institutions have been disconnected by Mastercard from its payment system due to "sanction orders". We recall that VTB, Otkritie Bank, Sovcombank, Promsvyazbank and Novikombank fell under restrictive measures.

“We will continue to work with regulators in the coming days to fully comply with our commitments”, - CEO Michael Mibach said in a statement.

The shutdown led to the cessation of the cards of these banks abroad. On the territory of the Russian Federation, they will continue to function, but in foreign online stores it will no longer be possible to pay with them.

Restrictive measures followed as a result of Moscow's special operation in Ukraine. Mibach pointed out that "the invasion of Russian military forces into Ukraine" was devastating for the citizens of the country.

“Our thoughts are with those affected”, - added the head of the company.

The organization began working with partners to send humanitarian aid to Ukraine.

Earlier, we recall, Western countries decided to disconnect Russia from SWIFT, but so far this only applies to some domestic banks. The introduction of such measures will affect not only Russian financial institutions, but also ordinary citizens. What this measure threatens the Russians, explained "Novye Izvestia".

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