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    December 24, 2015

    Six Russian Banks Disconnected From Visa And MasterCard

    Translated by Ollie Richardson for Fort Russ
    24th December, 2015

    Payment systems Visa and MasterCard have stopped servicing the transactions of six Russian banks included on the sanctions list of the USA. This was announced on Thursday, December 24th, according to "Vedomosti" with reference to several bankers.

    According to the newspaper, "GenBank", "Krayinvestbank" Bank "Tver", "Sevastopol Marine Bank" (PSC) who work in Crimea, as well as "Interbank" and "Mosoblbank" have been disconnected from the service. Also on the sanctions list are SMP Bank and its shareholders — the Rotenberg brothers.

    Earlier, representatives of these banks noted that the sanctions will not affect their work, including in the territory of Crimea. But already on December 23rd, the card operations of these banks became impossible.

    The publication reported that MasterCard transactions of "GenBank" and "Tver" can be carried out according to the rules of the National system of payment cards. Visa said that the sanctions do not affect transactions, but did not answer the question about the maintenance of the banks from the black list.

    On Tuesday, December 22nd, the US imposed new economic sanctions against Russia.

    Under the restrictions were such Russian banks as "Interbank", "GenBank", "Sevastopol Marine Bank", "Tver", "Krayinvestbank" and "Mosoblbank". Also under the sanctions were the two sister banks Sberbank and "VTB 24". In addition, the U.S. imposed sanctions against the company "Yandex. Money."

    "Existing since September 2014, the sanctions on Sberbank at the same time apply to the Sberbank parent companies, who have a share of the company's direct and indirect ownership at 50 percent or more. The inclusion of the parent companies belonging to the group of "Sberbank" in the sanctions list does not change the scope and legal force applicable to "Sberbank" sanctions", — said the press service of "Sberbank".

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    Item Reviewed: Six Russian Banks Disconnected From Visa And MasterCard Rating: 5 Reviewed By: Ollie Richardson
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