The government sanctions require Visa to suspend access to its network for entities listed as Specially Designated Nationals. The United States has added various Russian financial firms to the list, including the country's central bank and second-largest lender VTB. Visa and Mastercard also both pledged $2m toward humanitarian relief funds for Ukraine.
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Visa, Mastercard block Russian financial institutions after sanctions
"We will continue to work with regulators in the days ahead to abide fully by our compliance obligations as they evolve," Mastercard said in a separate statement late on Monday.
