Economics
Visa, MasterCard Halt Crimea Service on Tougher Sanctions
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Visa Inc. and MasterCard Inc., the world’s biggest payments networks, halted services to Crimea after the U.S. escalated sanctions in response to Russia’s annexation of the peninsula and its activities in Ukraine.
The card firms are responding to an executive order from the Obama administration last week, according to e-mails today from the companies’ Russian press offices.