Mastercard blocks multiple transactions from Russia

Mastercard has said that it has blocked multiple transactions from its payment gateway as a result of sanctions imposed on Russia over its invasion of Ukraine, Reuters reports.

The news comes as the US, along with the EU, UK and Canada, said they would take action against Russia by closing off Russian banks from the Swift international payments system and prevent Russia’s central bank from deploying its foreign reserves to cushion the impact of sanctions.

Mastercard will continue to work with regulators in coming days, the company said in a statement. It also promised to contribute a $2 million for humanitarian relief.