MasterCard lost $30 million from the suspension of work in Russia

The MasterCard international payment system began to count losses from the suspension of activities in the Russian Federation in 2022. As follows from last year’s reportthe amount of losses amounted to 30 million dollars.

Moreover, the document specifically notes that the loss is due precisely to the withdrawal from Russia and the sanctions imposed against the Russian Federation, and not for any other reasons.

“A loss before tax for the whole of 2022 of $30 million was directly related to the imposed sanctions and the suspension of our activities in the Russian Federation”the report says.

In total, MasterCard incurred losses of $67 million while operating in Russia, but $37 million of that was covered by profits.

Note that as of April 2022, MasterCard’s loss amounted to $34 million, but was able to increase by another $33 million over the remaining period.