Mastercard Statement on Suspension of Russian Operations

[demmiblue]

PURCHASE, N.Y.--(BUSINESS WIRE)--For more than a week, the world has watched the shocking and devastating events resulting from the Russian invasion of Ukraine. Our colleagues, our customers and our partners have been affected in ways that most of us could not imagine.

We have previously shared the steps we have taken in response to these events, with the well-being and safety of our employees being our first and foremost priority. And as we have navigated and complied with our regulatory commitments, we have been in constant dialogue with our customers, partners and governments. We’ve received perspectives from our employees, in addition to people across the industry, consumers and our shareholders. We have also considered what would be most important to support the continued availability of services, if possible, to impacted people in the region.

It’s with all of this in mind – and noting the unprecedented nature of the current conflict and the uncertain economic environment – we have decided to suspend our network services in Russia.

This decision flows from our recent action to block multiple financial institutions from the Mastercard payment network, as required by regulators globally.

https://www.businesswire.com/news/home/20220305005035/en/Mastercard-Statement-on-Suspension-of-Russian-Operations

[BigmanPigman]

1. Visa and Mastercard stop on the same day.

Last edited Sat Mar 5, 2022, 09:25 PM - Edit history (1)

Why? Did Zelensky call them out?

[Igel]

2. Various.

Here's one. https://en.interfax.com.ua/news/general/807329.html

Hard to Google the others because the really-recent news is a kind of Google bomb masking the not-quite-really-recent news.

I saw the call for suspension yesterday--maybe on Ukinform, maybe the Guardian's live blog, quite possibly both.

[BigmanPigman]

3. I like the reasoning...

"In fact, by continuing to allow and process transactions in Russia, you support the financing of war crimes by the Russian Federation, which is now brutally killing Ukrainians and actually committing genocide of our people," the Ukrainian parliament's press service quoted the speaker as saying."

That's what did it.

[yaesu]

4. So, sounds like Visa cards issued in Russia can still be used in Russia. A little smoke & mirrors?

Visa Inc, based in California, issued a statement that said: “Visa will work with its clients and partners within Russia to cease all Visa transactions over the coming days. Once complete, all transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa cards issued by financial institutions outside of Russia will no longer work within the Russian Federation


Also: Reuters news agency noted that the Tass Russian news agency had reported that Sberbank Rossii PAO, Russia’s largest lender, said sanctions announced by Visa Inc and Mastercard Inc would not affect users of the cards it issues in Russia when used inside Russia

[NoMoreRepugs]

5. Before prices rise too much I suggest all Russians charge everything imaginable to your

Sberbank Visa card and then pay in a month with totally worthless rubles.

[yaesu]

6. Sounds like a good idea 👍 nt

[L. Coyote]

7. All good until the hackers decide to shut them down.

Link to tweet

[TeamProg]

8. Russians LOVE Putin!