NEW YORK: US credit card giants Visa, Mastercard and American Express said they were blocking Russian banks from their payment networks following international sanctions in response to Moscow’s invasion of Ukraine.
“As a result of sanction orders, we have blocked multiple financial institutions from the Mastercard payment network,” Mastercard Chief Executive Michael Miebach said in a statement released Monday night.
“We will continue to work with regulators in the days ahead to abide fully by our compliance obligations as they evolve.”
Visa said on its website that it is “taking prompt action to ensure compliance with applicable sanctions, and is…
