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Visa says suspends servicing Crimean banks over US sanctions

December 26, 2014, 19:10 UTC+3 MOSCOW
Russia’s Minister for Crimean Affairs Oleg Savelyev earlier said Visa and MasterCard haven't been operating in Crimea since the March referendum on the peninsula’s self-determination
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© ITAR-TASS/Yuri Smityuk

MOSCOW, December 26. /TASS/. International payment system Visa has shut off Crimean banks from its services due to sanctions the US imposed on the peninsula, the company said in a statement on Friday.

Due to the sanctions that the US government imposed on Crimea on December 19, Visa can no longer carry out its services and offer its products in Crimea, can no longer issue and process cards and service them in ATMs, the company said.

Russia’s Central Bank has said Crimean banks continue operating in a normal regime.

“Russian credit institutions operating in the Republic of Crimea and the federal city of Sevastopol are working as normal, providing access for private individuals and legal entities to banking services, including the opening of bank accounts, the transfer of funds across accounts, the acceptance and withdrawal of funds,” the Central Bank said in a statement.

Russia’s Minister for Crimean Affairs Oleg Savelyev earlier said Visa and MasterCard haven't actually been operating in Crimea since the March referendum on the peninsula’s self-determination.

“As of today, the Russian payment system is developing on the peninsula. It has actually been introduced,” he said.

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