Russian Banks Will Not Be Able to Issue New Visa and Mastercard Cards

Russian banks that have come under "blocking" sanctions will not be able to issue new Visa and Mastercard cards. This was reported by the National Payment Card System to RIA Novosti. Existing, already issued cards will continue to operate only within Russia.

Additionally, it was revealed today that the American company Mastercard has blocked access to its payment network for a number of financial institutions due to sanctions against Russia. This was announced by the company’s CEO, Michael Miebach.