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)
Russian bank SMP says Visa, MasterCard resume payment services
Russia says JP Morgan 'illegally' blocked embassy money transfer
Mexico says mayor, wife were behind student-teacher disappearances
'Goodfellas' actor sues 'The Simpsons' for $250 mn
Blast outside Cairo University wounds 11 - Officials
Attack on parliament, killing of soldier stun Canada's capital
At least three drugs smugglers killed in attack along Egypt border-Israel
U.S. jury convicts ex-Blackwater guards in 2007 Baghdad killings
Early Apple computer sells for US$905,000 at auction
Not molotov cocktail attack on Customs officers car, says police
Glaring miss costs Monaco against Benfica
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)