Russian Banks Blocked From, Visa and Mastercard, Networks Following Sanctions.<br />CNBC reports that both Visa and Mastercard have blocked financial institutions from their networks in response to Russia's invasion of Ukraine. .<br />CNBC reports that both Visa and Mastercard have blocked financial institutions from their networks in response to Russia's invasion of Ukraine. .<br />Since the invasion began, the U.S. and other global <br />leaders have imposed sanctions aimed at shutting <br />Moscow out of the global financial system. .<br />Since the invasion began, the U.S. and other global <br />leaders have imposed sanctions aimed at shutting <br />Moscow out of the global financial system. .<br />According to CNBC, those sanctions effectively <br />blocked U.S. companies and individuals from <br />doing business with any entity on the sanctions list. .<br />On February 28, <br />the U.S. imposed additional <br />sanctions on Russia's central bank. .<br />The same day, Mastercard announced <br />that it had blocked several Russian financial <br />institutions from its payment network. .<br />Mastercard did not name any blocked <br />companies or individuals by name. .<br />We will continue to work <br />with regulators in the days <br />ahead to abide fully by our <br />compliance obligations <br />as they evolve, Mastercard statement, via CNBC.<br />On March 1, Visa followed suit and released <br />a statement saying that the company <br />had blocked those on the U.S. sanctions list. .<br />CNBC reports that both of the competing <br />credit giants also pledged $2 million toward <br />humanitarian relief funds for besieged Ukraine. .<br />On February 26, the U.S., Canada and European <br />allies vowed to remove Russian banks <br />from the interbank messaging system, SWIFT. .<br />The broad range of sanctions have resulted <br />in the Russian ruble plunging in value.
