Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty

MasterCard And Visa Resume Services At Two Russian Banks

WASHINGTON (UPI) — After shutting down services for banks and individuals named in U.S. economic sanctions, Visa and MasterCard have resumed services at two Russian banks.

Card services are now working at both SMP Bank and InvestCapitalBank, according to the banks. Meanwhile, card services at two other Russian banks — Rossiya and a subsidiary, Sobinbank — continue to be blocked.

Services were suspended after the U.S.issued sanctions against two individuals — Arkady Rotenberg and Boris Rotenberg — who were shareholders in the banks.

“This is not an unusual situation when sanctions are issued. Questions are raised, and refinements are made by the regulators from time to time,” Mastercard said in a statement. “We will continue our active dialogue with regulators and our efforts to minimize the impact on the Russian payments market.”

Bank Rossiya has asked its customers to stop making foreign exchange payments until further notice. The pressure was evident at Russia’s 17th largest bank, which has interests in oil and gas and controls $10 billion worth of assets.

Western financial institutions and banks have been responding to U.S. sanctions against institutions and people close to Russian President Vladimir Putin. Russian businesses have borrowed heavily from the West and the escalating crisis in Ukraine has forced banks and financial institutions to comply with U.S. sanctions.

While many banks and institutions haven’t commented on whether they would change their approach to Russia, institutions like Bank of America, Deutsche Bank and ING said they would honor any U.S. sanctions.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “MasterCard And Visa Resume Services At Two Russian Banks”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at


Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.