Mastercard has disabled several Russian banks due to sanctions

Mastercard has disconnected several Russian financial institutions from its payment system following "sanction orders," CEO Michael Mibach said in a statement.

“As a result of the sanctions orders, we have blocked several financial institutions in the Mastercard payment network. We will continue to work with regulators in the coming days to fully comply with our obligations <...>,” the statement said.

After disconnection from the Mastercard payment system, the cards of these banks will not work abroad and in foreign online stores. In RUSSIA, they will be valid, since within the country payments are processed by the internal National Payment Card System.

Mibach also said that "the invasion of Russian military forces into Ukraine" was devastating for the citizens of the country. “Our thoughts are with those affected,” he added.

In addition, Mastercard is working with partners to send humanitarian aid to Ukraine.