Head ARB: we Cannot say that the risk of departure from the country of Visa and MasterCard does not

We cannot completely exclude the risk of the withdrawal of international payment systems of Russia, the head of the Association of Russian banks (ARB) Garegin Tosunyan. “I can’t say that the risk is completely absent, although and regard it as negligible. I used to think it unlikely a variety of stupidity in the framework of the sanctions policy, but they began to be implemented. I think that this conflict will be wise enough to on our side, not passing, but they (the international payment system. — Approx. Sign) should be flexible and not to succumb to pressure in the framework of the sanctions policy. Imagine we go to Europe and suddenly the card would no longer service. Why would I need such a Visa? Why put up with it? Meaningless to us, with a country of our size, to speak such a language. Our actions to protect our market and to ensure our payments correctly implemented, although we late have to do it. I think because they (the international payment system. — Approx. Sign) I love to count money, they are of such a market as ours, will not give up. And we turn show you how emerging issues to fight,” Tosunyan told journalists in Yekaterinburg.

We will remind, amendments to the law “About national payment system”, which in a negative scenario of events can lead to the departure of the international payment systems of Russia, have already passed two readings in the State Duma. The amendments essentially prohibit Russian subsidiaries of international payment systems suspend the carrying out of the payment cards of the banks which have got under sanctions. International payment systems operating in Russia will have to amend the rules of operation on the Russian market.

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