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Mastercard and Visa Suspend Operations in Russia



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Mastercard and Visa said they would suspend operations in Russia, essentially severing cardholders there from transactions outside the country in response to the invasion of Ukraine.The suspensions announced on Saturday evening will prevent Mastercards and Visa cards issued by Russian banks from working in other countries and block people with cards issued elsewhere from purchasing goods and services from companies in Russia.But other transactions may still go through. Cards branded with the Mastercard or Visa logo that were issued by Russian banks may still work inside the country, because the transactions are handled by a local processor, officials at both companies said.In a statement, Mastercard — which has operated in Russia for more than 25 years — said it had not made the decision lightl …

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