MOSCOW, June 18 Russia will reduce the size of
deposit payments required for Mastercard and Visa
to operate in the country, First Deputy Prime Minister Igor
Shuvalov said on Wednesday.
New rules imposed on foreign card companies following
Western sanctions over Ukraine required the payment operators to
pay a hefty security deposit to the central bank.
Both companies considered quitting Russia after President
Vladimir Putin signed the rules into law in early May, but said
they would stay after officials showed a willingness to relax
the requirements. Visa declined comment. Mastercard could not
immediately be reached for comment.
(Reporting by Daria Korsunskaya and Alexander Winning, writing
by Megan Davies, editing by Elizabeth Piper)