Mastercard cuts several Russian financial institutions off

1 March 2022, 12:09 PM

A number of Russian financial institutions have been disconnected from the Mastercard international credit card payment system due to the launch of Russia’s unprovoked war of aggression on Ukraine, Reuters reported on Feb. 28.

The exact list of companies that were cut off by Mastercard remains unclear.

Mastercard has pledged to continue working with regulators to ensure full compliance with Western sanctions imposed on Russia.

Earlier, the United States and the European Union introduced wide-ranging sanctions against Russian for its unprovoked war on Ukraine. These include bans on Russia’s Central Bank conducting transaction in euros and U.S. dollars, disconnecting major Russian banks from the SWIFT bank payments system, and freezing the assets of the Moscow elite – MPs, billionaires, and individuals enabling the Kremlin’s capacity to wage war in Ukraine.

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