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Russia sanctions will have wider impact than its targets: bankers

Banks will be extra careful not to do business with anyone linked to US blacklist

Published Fri, Mar 21, 2014 · 10:00 PM
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Moscow

AMERICAN and European sanctions against Russia are already having a ripple effect beyond their immediate targets, with Visa and MasterCard halting payment transaction services for clients of a bank not even on the blacklist.

SMP bank's co-owners are two of the 20 Russians targeted by US President Barack Obama as he tries to punish Russian President Vladimir Putin for annexing Crimea.

The lender described the move by Visa and MasterCard as unlawful. However, financial servic…

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