Visa, MasterCard stop providing payments services as US sanctions kick in

As the Russian stock market collapses in the wake of US sanctions, closely followed by the EU,  Visa Inc and MasterCard Inc have stopped, without notification, providing services for payment transactions for clients at Russia‘s Bank Rossiya, the bank said on Friday.

“The management of Rossiya understands the difficulties of clients in the current situation and will do all it can to solve them,” the bank said in a statement.

Similarly the payments giants stopped, without notification, providing services for Russia‘s Bank Rossiya.