THE Mastercard Inc. announced late Monday that excluded many Russian financial institutions from the payment network under the sanctions imposed on Moscow because of it invasion of Ukraine by the Russian armed forces.
Mastercard stated that it will continue to work with regulators in the near future in a press release. He also promised to donate $ 2 million to provide humanitarian assistance to the victims of the conflict.
On Saturday, the United States and its allies announced that they would take action against the Russian central bank and exclude many of the largest Russian banks from its international payment system. Swiss company SWIFT. On Monday, EU sanctions were imposed on Russia’s central bank.
THE Moscow calls “special operation” the action of its armed forces in Ukraine.
Queues at ATMs
Many Russians rushed to ATM and formed long queues on Sunday over concerns that bank cards may cease to operate or that banks may impose a capital check – limiting the possibility of withdrawals – due to Western sanctions. Russia’s central bank raised its benchmark interest rate dramatically yesterday and announced it would instruct exporters to sell off their foreign exchange reserves.
Source: News Beast
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