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Russia: Visa, Mastercard block US-sanctioned Bank Rossiya00:43

Russia: Visa, Mastercard block US-sanctioned Bank Rossiya

Russian Federation, Moscow
March 21, 2014 at 11:45 GMT +00:00 · Published

Russia: Visa, Mastercard block US-sanctioned Bank Rossiya

International payment system providers, Visa and MasterCard, stopped serving clients at Bank Rossiya on Friday after the US issued sanctions against the bank a day earlier. The blockade came without warning, the bank said.

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. The bank added that its own services relating to Visa and Mastercard cards, like withdrawing cash from the bank’s ATMs works fine.

Russian President Vladimir Putin said he plans to open a bank account at Bank Rossiya on Monday.

Bank Rossiya is the only lender on the sanctions list announced on Thursday in response to Russia’s moving towards accepting Crimea under its sovereignty. Washington’s move is aimed at putting pressure on people they see as members of Putin’s “inner circle”. The bank’s chairman and largest shareholder, Yury Kovalchuk, is also on the list, as an individual.

Russia: Visa, Mastercard block US-sanctioned Bank Rossiya00:43
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Russia: Visa, Mastercard block US-sanctioned Bank Rossiya

International payment system providers, Visa and MasterCard, stopped serving clients at Bank Rossiya on Friday after the US issued sanctions against the bank a day earlier. The blockade came without warning, the bank said.

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. The bank added that its own services relating to Visa and Mastercard cards, like withdrawing cash from the bank’s ATMs works fine.

Russian President Vladimir Putin said he plans to open a bank account at Bank Rossiya on Monday.

Bank Rossiya is the only lender on the sanctions list announced on Thursday in response to Russia’s moving towards accepting Crimea under its sovereignty. Washington’s move is aimed at putting pressure on people they see as members of Putin’s “inner circle”. The bank’s chairman and largest shareholder, Yury Kovalchuk, is also on the list, as an individual.