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Obama Blocks Visa and MasterCard in Russia Print E-mail
by Tom McGregor    Fri, Mar 21, 2014, 02:04 AM

Is President Barack Obama trying to boost revenues for Russian-made credit cards? In his latest round of sanctions, he's banned Visa and MasterCard from operating in Russia, which could lure customers over to Putin-backed credit cards.

According to the Moscow Times, "Visa and MasterCard have stopped, without notification, providing services for payment transactions for clients at Russia's Bank Rossiya, the sanctions-hit bank said on Friday, Reuters reported."

Obama is punishing US-based credit card companies for allegedly supporting Crimea's annexation to Russia.

As reported by the Moscow Times, "The United States Treasury Department on Thursday published an updated list of individuals it was sanctioning for their involvement with Russia's absorption of Crimea or their role as part of President Vladimir Putin's "inner circle." It also stated that Bank Rossiya was on the list, "because it is controlled by, has acted for or on behalf of, or has provided material or other support to, senior Russian government officials."

Visa and MasterCard have been deemed as allies of Russian President Vladimir Putin and therefore, the global community must stand up and cut their Visa and MasterCards. The world welcomes their imminent demise.

To read the entire article from the Moscow Times, link here:

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