[Aaus-list] Visa and Mastercard Suspend Relationship with Bank of Russia

Marta Farion marta at farion.org
Fri Mar 21 10:13:56 EDT 2014


Visa and Mastercard (both owned by Bank of America) have stopped doing
business with Bank of Russia; BOA pulled the plug on these credit card
accounts last night --although there are, of course, many other Russian
banks that do business with BOA's Visa and Mastercard.


1.59: Visa and MasterCard stop payment services for Russia's SMP bank Visa
Inc and MasterCard Inc have stopped, without notification, providing
services for payment transactions for clients at Russia's SMP bank, whose
main shareholders were hit by US sanctions, the bank said. Co-owners of SMP
Bank Boris Rotenberg and his older brother Arkady, who received large
contracts for the Sochi Winter Olympics were two of the 20 sanctioned by the
Obama government, reported Reuters. "Due to the fact that the sanctions were
imposed on shareholders and not on the bank, we consider the moves by the
payment systems unlawful and we are confident that we can resolve the
encountered difficulties in the near future," the bank said in a statement.
The bank added it has no assets in the United States.

Read more at:

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