The world's two largest credit and debit card companies, Visa and MasterCard, said on Friday they could no longer support bank cards being used in Crimea following U.S. sanctions imposed earlier this month.
The United States last Friday prohibited U.S.-registered companies from investing in Crimea or providing services to firms operating there, among sanctions imposed over Russia's annexation of the peninsula from Ukraine.
Visa said in a statement that the sanctions meant it could not offer Visa-branded products and services to Crimea.
"We can no longer support card issuing and merchant/ATM acquiring services in Crimea," it said.
Competitor MasterCard also said that it had to suspend operations with bank cards in Crimea due to the sanctions.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.