Tinkoff Bank announced that the Union Pay cards issued by it will cease to operate abroad from July 21. This is due to the fact that on July 20, the bank was subject to blocking sanctions from the United States and Canada.
Nothing changes in Russia – Union Pay cards issued by Tinokoff Bank will continue to work as usual. However, the organization no longer intends to issue cards of the Chinese payment system – their issuance will cease in the near future.
Updated: Solidarnost Bank was also subject to US sanctions.
Tinkoff is not the only Russian bank subject to US blocking sanctions; restrictions have also been imposed on Solidarnost Bank. The company noted that they were prepared for restrictions of this kind and "tried to do everything" to ensure that services were not affected by unfriendly countries.
Nevertheless, Solidarnost recommended that cardholders abroad withdraw cash.
Due to the fear of secondary sanctions, some counterparty banks may limit the possibility of receiving funds from the bank abroad. If you are currently in another country, we recommend that you withdraw cash today.
The credit institution emphasizes that operations in the Russian Federation are carried out as usual. But at the same time, the bank prematurely terminated the Welcome Card promotion for UnionPay cardholders.