MasterCard, following Visa, stopped servicing cards in Crimea

The international payment system MasterCard has notified Russian banks of the termination of card service in Crimea. This decision was made in connection with the introduction of new sanctions by the US administration.

Earlier on December 26, the Visa payment system announced the termination of card service. In her statement, she said that the sanctions prohibit “providing services, as well as directly or indirectly facilitating transactions in Crimea.”

The Central Bank of the Russian Federation announced, in turn, that Crimean banks continue to operate as usual.

[Banks in Crimea] operate as usual, providing individuals and legal entities with access to banking services, including opening bank accounts, transferring funds across accounts, receiving and withdrawing funds,” the Bank of Russia said.

TASS

• The US administration announced the introduction of new sanctions against Crimea on December 19. The document, signed by US President Barack Obama, prohibits individuals and legal entities from the United States from exporting and importing any goods, services and technologies to/from Crimea. US companies and US citizens are also prohibited from buying real estate or businesses in Crimea, or from investing in Crimean companies.
• On December 18, Obama signed the Ukrainian Freedom Support Act, which provides for tougher sanctions against Russia. At the same time, the US President noted that it is not yet planned to introduce new restrictive measures against Russia.