Home > News > World
Sunday March 23, 2014 MYT 6:25:02 PM
Sunday March 23, 2014 MYT 6:25:57 PM
MOSCOW (Reuters) - Visa Inc and MasterCard Inc have resumed services for payment transactions for clients at Russia's SMP bank, whose main shareholders were affected by U.S. sanctions, the bank said on Sunday.
Washington imposed additional sanctions on Thursday against 20 Russians for involvement in the Ukraine crisis, including Boris Rotenberg and his older brother Arkady, who received large contracts for the Sochi Winter Olympics. They are co-owners of SMP Bank.
SMP had said on Friday that Visa and MasterCard had stopped providing services for payment transactions for clients at Russia's SMP bank.
The bank said the decision to stop providing services by Visa and MasterCard was unlawful because the sanctions were imposed on shareholders, not the bank, which said it has no assets in the United States.
"We are glad that the two biggest international payment systems have heard our arguments and reversed their decision to block (SMP bank transactions)," SMP bank CEO Dmitry Kalantyrsky, said in a statement.
The bank has about 100 branches covering more than 20 Russian cities, according to its website.
(Reporting by Alissa de Carbonnel and Oksana Kobzeva. Editing by Jane Merriman)
North Korean karaoke stirs fear of mass propaganda sing-along in South
Migrants stream into Austria, swept west by overwhelmed Hungary
Saudi Arabia welcomes Iran nuclear deal after Obama meeting - foreign minister
From Vietnam War to a Turkish beach, the shock of the photo endures
China to build monument commemorating deadly Tianjin blasts: Xinhua
TalentCorp turns Malaysia’s brain drain to brain gain
Fun-filled Matta fair awaits visitors
Carnival visitors enjoy the best hawker fare Penang has to offer
Nadal falls in marathon U.S. Open match to Fognini
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)