Mastercard suspends services in Russia: Statement

In this photo illustration a detail of a Mastercard credit card showing the logo of the card in London, Friday, Sept. 9, 2016. Britain's former financial services watchdog is suing MasterCard for 14 billion pounds ($18.6 billion), alleging the firm slapped excessive charges on millions of transactions. Law firm Quinn Emanuel filed the suit Thursday at the Competition Appeal Tribunal on behalf of Walter Merricks, a former financial services ombudsman. (AP Photo/Alastair Grant)


US financial company Mastercard is suspending its services on the territory of Russia, the company said in a statement, posted on its website on Saturday.

According to the document, the company has “decided to suspend our network services in Russia” amid the current anti-Russian sanctions.

“With this action, cards issued by Russian banks will no longer be supported by the Mastercard network,” the document says.

Moreover, any Mastercard issued outside of the country will not work at Russian merchants or ATMs.

The company said those measures were taken in the light of the current situation around Ukraine. However, Mastercard said it will “work to restore operations” when “it is appropriate, and if it is permissible under the law.”

On February 24, Russian President Vladimir Putin in response to the appeal of the leaders of the republics of Donbass, decided to conduct a special military operation. The Russian leader stressed that Moscow’s plans do not include the occupation of Ukrainian territories. After that, the US, EU, and UK, as well as several other states, announced that they were imposing sanctions against Russian individuals and legal entities.