eyes on russia
Visa and MasterCard, the world's two biggest payment networks, both announced Friday they're stopping services in Crimea, Bloomberg Businessweek reports.
"Visa is now prohibited from offering Visa-branded products and services to Crimea," the company said in a statement. "This means that we can no longer support card-issuing and merchant/ATM acquiring services in Crimea."
The move comes after a recent executive order from President Barack Obama. The U.S. has been imposing sanctions since Russian President Vladimir Putin annexed the Crimean peninsula from Ukraine in March.