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Visa and MasterCard block Russian institutions from their networks

Visa and MasterCard block Russian institutions from their networks

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Visa (NYSE:V) and Mastercard (NYSE:MA) have blocked Russian financial institutions from their networks, applying further pressure to the country’s economy. The payment networks moved in order to comply with US imposed sanctions, with Mastercard (NYSE:MA) saying in a statement that it “will continue to work with regulators in the days ahead to abide fully by our compliance obligations as they evolve.

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