{"id":253181,"date":"2022-03-01T21:03:32","date_gmt":"2022-03-01T19:03:32","guid":{"rendered":"http:\/\/almowatna.news\/?p=253181"},"modified":"2022-03-01T21:03:32","modified_gmt":"2022-03-01T19:03:32","slug":"visa-mastercard-block-russian-financial-institutions-sanctions","status":"publish","type":"post","link":"http:\/\/almowatna.news\/?p=253181","title":{"rendered":"Visa, Mastercard block Russian financial institutions after sanctions"},"content":{"rendered":"

March 1 (Reuters) – U.S. payment card firms Visa Inc and Mastercard Inc have blocked multiple Russian financial institutions from their network, complying with government sanctions imposed over Moscow’s invasion of Ukraine.<\/p>\n

Visa said on Monday it was taking prompt action to ensure compliance with applicable sanctions, adding that it will donate $2 million for humanitarian aid. Mastercard also promised to contribute $2 million.<\/p>\n

“We will continue to work with regulators in the days ahead to abide fully by our compliance obligations as they evolve,” Mastercard said in a separate statement late on Monday.<\/p>\n

The government sanctions require Visa to suspend access to its network for entities listed as Specially Designated Nationals, a source familiar with the matter told Reuters. The United States has added various Russian financial firms to the list, including the country’s central bank and second-largest lender VTB .<\/p>\n

On Saturday, the U.S., Britain, Europe and Canada announced new sanctions on Russia – including blocking certain lenders’ access to the SWIFT international payment system.<\/p>\n

Russians rushed to ATMs and waited in long queues on Sunday and Monday amid concerns that bank cards may cease to function, or that banks would limit cash withdrawals. <\/p>\n

Russia calls its actions in Ukraine a “special operation”.<\/p>\n

Egypt Today<\/p>\n","protected":false},"excerpt":{"rendered":"

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