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Visa, MasterCard to stay in Russia

  • Visa (V) and Mastercard (MA) plan to remain in Russia despite a new law that increases their security deposits to 25% of their average daily turnover.
  • The deposits will be paid to the Central Bank of Russia every quarter starting on July 1.
  • The requirement looks like it could be retaliation for the West continuing to cautiously add to its sanctions against Russia.
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Comments (3)
  • caupachow
    , contributor
    Comments (415) | Send Message
     
    this new law will only be around less than a year and all will be forgotten and back to normal.
    23 May, 11:14 AM Reply Like
  • bd4uandu
    , contributor
    Comments (1871) | Send Message
     
    http://bit.ly/1id0jOH
    23 May, 11:25 PM Reply Like
  • ozcutty
    , contributor
    Comments (342) | Send Message
     
    I assume they will setup a local entity that will pay dividends to the US parent, similar to Visa europe. May be the model for setting up in non-us friendly countries in future
    27 May, 07:31 PM Reply Like
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