The Banking Association of Georgia (BAG) has released a statement regarding the suspension of Russian VISA and Mastercards.
"We would like to inform that within the framework of the sanctions imposed on Russia by the international community, VISA and Mastercard have stopped providing services to banks and financial institutions operating in the Russian Federation.
On the one hand, VISA and Mastercards issued in Russia will not work abroad, while on the other hand, VISA and Mastercards issued abroad, will not be valid in Russia.
As of March 6, use of Russian VISA and Mastercards will no longer be possible in Georgia therough ATMs and post-terminals of commercial banks as in other countries of the world, so the holders of these cards will not be able to withdraw money and /or pay at the shopping facility or service outlets.
Similarly, merchants operating in Georgia can no longer serve VISA and Mastercards issued on the territory of Russia.
In addition, citizens of any country, including Georgian citizens, are restricted from using VISA and Mastercards issued in the territory of another country on the territory of Russia,"- the statement reads.
