Visa and MasterCard halted services in Crimea after a new round of U.S. sanctions, according to
Visa has stopped issuing and servicing payment cards in Crimea, while MasterCard has stopped servicing cards issued by banks in Crimea, according to the wire service
Visa attributed the move to
Russia annexed Crimea from Ukraine earlier in 2014, and has applied pressure on Ukraine that includes a military buildup near the two countries' borders that's designed to dissuade Ukraine from allying with NATO countries.
The U.S. and other western countries have issued a series of sanctions as a punitive measure against Russia. Russia's responses have included moves to form its own payments network and passing laws that make it harder for foreign companies to do business in Russia.
Visa and MasterCard temporarily halted processing in Russia earlier in 2014 after earlier Western sanctions.