Hard step! Mastercard and Visa have decided to punish Russia for invading Ukraine – New Time

Mastercard said its network would no longer support cards issued by Russian banks and any card issued outside that country would not operate in Russian stores and ATMs., the AP agency informed. “This decision was not born easily,” Mastercard said in a statement, adding that it decided to do so after discussions with customers, partners and governments.

Visa has announced that it is working with clients and partners in Russia to suspend all Visa transactions in the coming days. “We are forced to act after the unprovoked Russian invasion of Ukraine and the unacceptable events we are witnessing,” Visa CEO Al Kelly said in a statement.

More and more companies around the world are stopping their Russian operations to protest the invasion of Ukraine. “This war and the continuing threat to peace and stability require us to respond in line with our values,” Kelly said. Visa and Mastercard blocked Russian banks from accessing their payment networks early in the week.