RBC: Mastercard notified Russian banks from the list of sanctions about their exclusion from the system
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The international payment system Mastercard has notified Russian banks that have fallen under US sanctions of suspending their participation in the system. It is reported by RBC with reference to sources in the payment market.
We are talking about VTB, Otkritie, Sovcombank, Promsvyazbank and Novikombank. Their participation in the system is suspended from 16:00-17:00 Saturday, February 26.
The suspension notice to one of the credit institutions states that the decision was made due to violations of the rules of the payment system, since banks should not harm the reputation of the “signs” (Mastercard payment system).
According to RBC, the suspension of the participation of banks in the payment system means that Visa and Mastercard cards issued by these banks and their subsidiaries will stop working abroad and in foreign online stores. At the same time, they will continue to work in Russia.
On February 24, the US Treasury Department announced the imposition of sanctions against several Russian banks in connection with the Russian special operation in the Donbass. “These sanctions will further restrict the Russian financial services sector and significantly reduce the ability of other critical Russian economic sectors to access global markets, attract investment and use the US dollar,” the agency explained.
