Mastercard imposes payment restrictions following sanctions on Russia

Mastercard has blocked multiple financial institutions from its payment network in response to sanctions imposed on Russia over its invasion of Ukraine.

The US credit card company did not specify which institutions it had restricted but said it would continue to work with regulators.

Kyrylo Shevchenko, governor of the National Bank of Ukraine, told Nikkei Asia on Monday that the central bank had urged Mastercard and Visa to halt transactions of their credit and debit cards issued by Russian banks.

Michael Miebach, Mastercard’s chief executive, said the company was on a heightened alert against cyber attacks.

“Our cyber and intelligence and corporate security teams are working with governments and partners around the world to ensure the stability, integrity and resiliency of our systems, which are operating as normal,” he said in a statement.