View Full Version : Russia begins to refuse credit cards in worsening global financial crisis

mick silver
29th October 2008, 10:53
Several Moscow city centre restaurants are now refusing to accept cards in a move not seen since Russia's last financial crisis almost a decade ago.

Some automated teller machines at Sberbank, the country's biggest state-owned bank, have also stopped accepting cards from other banks.

Several electronics and mobile phone stores said they no longer accepted credit card purchases.

Over the weekend, Aeroflot, the biggest Russian airline, announced it had stopped taking credit cards payments for flights except from a handful of banks.

Meanwhile, the International Monetary Fund (IMF) and the US government announced two large bailouts as financial markets remain volatile.

The IMF said it was to offer a $16.5 billion (10.4 billion) loan to the Ukraine and has agreed an undisclosed package with Hungary.

As news of IMF's bailout comes to light, it has also emerged nine major US banks will receive

15th December 2010, 12:03
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