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The Independent UK

National

Via AP news wire

Report: Chinese credit card processor rebuffs Russian banks

Russia RBC UnionPay China Ukraine Mastercard Sberbank Visa

Xinhua

China’s credit card processor has refused to work with banks in Russia for fear of being targeted by sanctions over its war on Ukraine, cutting off a possible alternative after Visa and Mastercard stopped serving them, according to the Russian news outlet RBC.

UnionPay’s decision affects Sberbank, Russia’s biggest commercial bank, and smaller institutions, RBC reported Wednesday. It cited five unidentified sources in large Russian banks.

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