Mastercard blocks financial ins utions over sanctions on Russia
Mastercard announced Monday it was blocking "multiple financial ins utions from the Mastercard payment network" as a result of sanctions imposed on Russia over its invasion of Ukraine.
The U.S.-based financial services company said in a statement it will continue to work with regulators to stay in compliance and is actively monitoring and preparing to respond to cyberattacks.
The U.S. and EU have sanctioned top Kremin officials and Russian elites as well as taken steps to remove Russian banks from the SWIFT network, which allows for payments between financial ins utions.
The financial corporation also said it would donate $2 million in humanitarian relief.