The international payment system Visa on Tuesday, March 1, expressed its readiness to comply with anti-Russian sanctions, which Western countries announced against the backdrop of the Russian operation to protect Donbass.
“Visa is taking prompt action to enforce applicable sanctions and is prepared to comply with additional sanctions that may be imposed,” the organization’s website said in a posting.
As emphasized in the press service, in recent days, Visa “has been watching the tragic events in Ukraine with deep sadness and disbelief.”
Earlier in the day, US financial corporation Mastercard blocked a number of Russian financial institutions from accessing the payment network as a result of sanctions orders against Russia.
On February 28, the US Treasury Department banned transactions with the Russian Central Bank, the Treasury and the National Welfare Fund.
Against the backdrop of Western sanctions, the Russian Central Bank announced additional measures to support credit institutions. On Monday, the regulator raised the key rate to 20%, noting that this decision will help maintain financial and price stability, protect citizens’ savings from depreciation, and also compensate for increased devaluation and inflation risks.
Earlier, on February 24, the United States imposed sanctions on a number of companies with state participation or organizations important to the economy and on “two companies with a predominance of private capital.” The list includes Gazprombank, Alfa-Bank, Sberbank, Otkritie Bank, Sovcombank, VTB, Rosselkhozbank, Moscow Credit Bank (MKB) and Novikombank. Following the United States, other countries have imposed sanctions against Russian banks.
The Bank of Russia then stated that the Russian regulator has the necessary resources and tools to maintain financial stability and ensure the operational continuity of the financial sector in the country.
Western sanctions followed in response to the Russian-led operation to protect the Donbass, the beginning of which Russian President Vladimir Putin announced on February 24. After that, the Ukrainian leader Volodymyr Zelensky accused the Russian Federation of hitting the country’s military infrastructure and introduced martial law throughout the country. He later severed diplomatic relations with Russia.
Before that, on February 21, Putin signed decrees recognizing the independence of the DNR and LNR, as well as treaties of friendship, cooperation and mutual assistance with the republics. The documents were ratified the next day.
The head of state made the relevant decisions against the backdrop of the aggravation of the situation in Donbass that began on February 17. The DPR and LPR reported heavy shelling by Ukrainian security forces, including from heavy weapons. The republics announced a general mobilization and evacuation of civilians to the territory of Russia.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
