Visa and MasterCard cut off a few more Russian banks

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Six more Russian banks were disconnected from the payment systems Visa and MasterCard, reports “Vedomosti” on Thursday.

On Tuesday, the Office for Foreign Assets Control (OFAC) of the US Treasury extended the sanctions against Russia. The Black List (SDN, with the most severe sanction) was updated with Genbank, Krayinvestbank, bank “Verkhnevolzhsky”, and Sevastopol Marine Bank (SMB), as well as Inresbank and Mosoblbank.

Genbank, Krayinvestbank, Verkhnevolzhsky and SMB were included in the list due to they actively work in Crimea, and the other two are related to a bank that has been under sanctions for a year and a half (as well as its shareholders): “SMP Bank”, Rothenberg brothers. Inresbank is a “daughter” of “SMP Bank”, and Mosoblbank is on its on sanitation.

The media¬†notes that card operations of these banks became partially unavailable yesterday due to the fact that the international payment systems cut off these banks. Several bankers told “Vedomosti” that the international payment systems sent relevant notices.

MasterCard representative pointed out that because of new US sanctions card transactions of GenBank and Verkhnevolzhsky can be performed by the rules of the National System of Card Payments.

Visa representative only said that “sectoral sanctions announced by the US Treasury Department do not affect transactions made using Visa cards”. However, Vedomosti notes, he ignored the question about serving banks included in the blacklist.

Source: Interfax