UnionPay cards of sanctioned banks may be disabled abroad – DOS

February 25, 2023, 11:55 – BLiTZ – News Russian banks that have fallen under the new package of anti-Russian sanctions adopted in the UK and the US are warning customers about a possible shutdown of the UnionPay payment system abroad. It is reported by RBC.

In particular, such organizations as MTS Bank, Primorye Bank, Zenit, Uralsib, Bank St. Petersburg addressed their clients with relevant applications. They warn UnionPay cardholders that if they are abroad, or going there in the near future, they should withdraw funds from their bank cards, due to the risk of blocking.

It is noted that getting into the SDN lists means a stop of operations in dollars, as well as the blocking of all assets located in the United States and the risks of applying secondary sanctions against companies that are partners of banks. In total, the new sanctions affected 5 out of 12 Russian banks, among those that issue UnionPay cards.

Earlier, on the air of the BLiTZ, experts in the field of finance and economics discussed the current difficulties with cashless payments for Russians abroad. The speakers told in which countries of the world they accept bank cards of the Mir payment system and with what restrictions, and also spoke about the development of the sanctions policy of Western countries in relation to payment systems. See material for details.

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