American Express halts relations with Russia bank partners

American Express halts relations with Russia bank partners

Ukrinform
American Express joining a growing list of large multinational companies severing ties with Russia amid its war against Ukraine.

"Since the beginning of this crisis, we have been complying with U.S. and international sanctions, which has resulted in us halting relationships with impacted bank partners in Russia, and we will continue to comply with all relevant laws as the situation evolves," said American Express Chairman and CEO Stephen Squeri in a memo to employees obtained by Yahoo Finance.

Earlier, Mastercard, Visa and BlackRock refused to do business in Russia.

Western allies adopted a decision to cut a significant number of Russian banks off from SWIFT payment system. This and other harsh sanctions deprive Russia of access to the country's financial markets and foreign exchange reserves, leading to the Russian economy collapse.

ol


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2022 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-