Visa, MasterCard to stay in Russia

|About: Visa Inc. (V)|By:, SA News Editor

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.