Credit giants of United States announced their decision block Russian banks from their payment networks after imposing sanctions on Russia over son invasion of Ukraine.
“Like a result of penalty orders, we have blocked several financial Mastercard payment institutions network”said Mastercard Chief Executive Michael Miebach. in a statement released Monday evening.
“We will continue to work with regulators in the coming days to fully meet our compliance obligations car they evolve.”
Visa said on son website that he “takes swift action to ensure compliance with applicable penalties and is prepared to comply with additional penalties that may be applied.
statements follow moves by Western governments to sanction Russian banks and Russian nationals as the United States, European Union and other powers seek to isolate the country and punish its economy.
the steps taken on credit card companies prevent these entities and individuals from accessing their platforms.
MasterCard also said he was working to keep against cyberattacks, “the menace of which is greatly increased in the present environment”, Miebach said.
