Putin warns West against curbing use of payment systems in Russia

NOVO-OGARYOVO, Russia, March 27 Thu Mar 27, 2014 7:42am EDT

NOVO-OGARYOVO, Russia, March 27 (Reuters) - President Vladimir Putin warned the West on Thursday that curbing Russians' use of payment systems based in the United States and Europe would backfire by causing companies involved to lose money and market share.

Visa and MasterCard last week stopped providing services for payment transactions for clients at Bank Rossiya, which has been hit by U.S. sanctions over Russia's annexation of Crimea, as well as some other banks. Services were later resumed for most of the banks.

"It is really too bad that certain companies have decided on ... restrictions," Putin told senior Russian lawmakers. "I think this will simply cause them to lose certain segments of the market - a very profitable market." (Reporting by Alexei Anishchuk, Writing by Steve Gutterman, Editing by Timothy Heritage)

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (3)
UScitizentoo wrote:
rasPutin should get use to financial sanctions because they are going to be in place for quite a while.

Apr 01, 2014 10:42pm EDT  --  Report as abuse
MiamiNice57 wrote:
Of course Puttin is upset with this action… that is going to put a damper on his girlfriends spending in Sunny Isles, FL., the two little ones (sons of course)will have to rough it as well.

There are no secrets between earth and the sky.

Apr 02, 2014 9:31am EDT  --  Report as abuse
MiamiNice57 wrote:
What happened to my comment????

Is it against Reuters policy to publish the truth?

Putin has two sons and a girlfriend in Sunny Isles FL. USA. No more cash for them.

Apr 02, 2014 9:33am EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.