ANNOUNCEMENT 31 Mar 2015

In March 2015, the government of the Russian Federation announced a change in the required local operations to serve domestic customers.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 31 Mar 2015 | Removal date: open ended
Still in force

Local operations

As of 31 March 2015 the Central Bank of Russia requires all credit card transactions within its territory to be processed by the JSC "National Payment Card System".
The JSC "National Payment Card System" was created in 2014 after that several Russian banks were affected by the US sanctions. Back then, international credit card providers such as Visa and MasterCard had stopped processing transactions.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
N/A