Among the latest Ukraine news headlines stemming from the Russian invasion, Mastercard and Visa have begun to cut off certain Russian banks.
The global financial system is continuing to throttle essentially every aspect of the Russian economy, in an attempt to help bring the country’s invasion of Ukraine to a swift end. Among the latest Ukraine news as the week began? Financial sanctions led credit card issuers Visa and Mastercard to say they’re blocking some Russian banks from tapping their networks. Which can have all sorts of everyday consequences even for average Russians. Let alone the country’s powerful oligarchs. Both credit card issuers sent out statements along these lines in recent days. Mastercard, for example, announced that: “As a result of sanction orders, we have blocked multiple financial institutions from the Mastercard payment network.
