See on Scoop.it – Politics and Business
International payment system Mastercard has stopped serving clients of seven Russian lenders, after the US issued sanctions against it regarding Russia’s position over the Ukrainian turmoil.
‘Visa and Mastercard have a record of bowing to political decisions from Washington, most notably in blocking donations to the WikiLeaks whistleblower website.
Garegin Tosunyan, the president of the Association of Russian Banks (ARB), said the action of the card payment companies was unacceptable.
“..the international payment system should correspond to the standards of the international payment system. That means it should not switch the tumblers on and off, depending on their own will, especially as it undermines their own foundations,” he said.’