Close shave for Visa cards in Russia

A presidential aide says Visa and MasterCard users will not experience any difficulties when making payments in Russia.

On his Twitter page, he dismissed media speculation over a possible ban on the two companies.

The speculation arose when the State Duma debated a draft law regulating the payment system in Russia.

The law would require all internal and international transactions to and from Russia to be controlled from inside the country.

Neither Visa nor MasterCard currently have operational hubs in the country.

The draft law is currently being reviewed by bankers ahead of a second Duma reading.

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