Starting today, it has been no longer possible to use Visa and MasterCard cards issued in Russia in ATMs and POS terminals of commercial banks operating in Georgia, the Banking Association of Georgia issued this statement on Monday.

“As part of the sanctions imposed on Russia by the international community, Visa and MasterCard today suspended the services for banks and financial institutions operating in Russia. As a result, the Visa and MasterCard issued on the territory of Russia will not work abroad. Besides, Visa and MasterCard issued in other countries will not work on the territory of Russia,” the statement by Association notes.

The payments giants Mastercard and Visa have announced that they are suspending their operations in Russia in protest over the invasion of Ukraine, BBC reported.

In a statement, Mastercard said that Russian banks would no longer be supported by its network and any card issued by the company outside of country would not work at Russian merchants or ATMs. The company said it had listened to representations from partners and taken its decision due to the “unprecedented nature of the current conflict and the uncertain economic environment”.

Meanwhile, Visa said that it would work to cease all transactions in the country in the coming days, adding that Visa cards issued by financial institutions outside of Russia would also stop working in the country’ territory.