3/2, 4:47 AM (Source: TeleTrader)
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Amex halts cooperation with Russian banks

American Express said that it will halt its cooperation with banks impacted by the West's sanctions against Russia over its intervention in Ukraine.

"Our business in Russia is small, consisting of one partner that issues cards and a handful that acquire merchants for payment transactions. Since the beginning of this crisis, we have been complying with U.S. and international sanctions, which has resulted in us halting relationships with impacted bank partners in Russia, and we will continue to comply with all relevant laws as the situation evolves," American Express CEO Stephen Squeri stated.

Earlier, Mastercard and Visa they blocked Russian financial institutions from their payment networks.

Baha Breaking News (BBN) / NP