The company promised to “follow the laws” as the situation with sanctions against Moscow develops further.

The American financial company American Express suspends cooperation with partners in the Russian Federation amid the imposition of sanctions.

This is stated in the company’s statement published on its website.

“We have small business connections in Russia, they include one partner issuing cards, and several more using trade acquiring for payments. From the very beginning of this crisis, we followed the sanctions of the United States and international partners, which led to the fact that we suspended cooperation with partner banks in Russia, and will continue to follow all relevant laws as the situation develops,” the statement says.

Earlier, the head of Mastercard, Michael Miebach, said that the American financial corporation Mastercard blocked access to its payment system to “many financial institutions” due to anti-Russian sanctions imposed in connection with the situation around Ukraine. The American multinational company Visa, which owns the payment system of the same name, in turn stated that it was taking measures to enforce restrictions in connection with the situation in Ukraine.