Ukraine bans payment cards of Russian and Belarusian banks as war enters 8th day

As war enter the eighth day, Ukraine has banned the payment cards issued by banks of the Russian Federation and the Republic of Belarus. The National Bank of Ukraine has banned crediting funds to the accounts of clients- physical persons on transfers initiated with the use of payment cards issued by Russian and Belarusian banks.

The NBU also stopped acceptance in Ukraine of payment cards issued by banks of Russian and Belarusian origins, including transfers, settlements and cash withdrawals.

"Financial support for the armed aggression against Ukraine must be stopped. The cards of the banks of the aggressor states will not work in Ukraine, and the enemy will no longer be able to send funds to them for terrorists and their supporters. The ban on accepting cards from Russian and Belarusian banks is our next step in Ukraine's financial defence," said Oleksii Shaban, Deputy Governor of the National Bank of Ukraine.

The second round of talks between Ukraine and Russia is likely to begin at 5:30 pm IST. In a press conference, Russian Foreign Affairs Minister Sergey Lavrov on Thursday said that Russia is ready for talks with Ukraine but Kyiv is delaying it.

Are sanctions hurting Russia?

In Washington, the Putin administration announced additional sanctions against Russia and Belarus, including expanding export controls that target Russian oil refining and entities helping both countries' militaries. Along with Europe and Canada, US has also shut its airspace to Russian airlines.

Further, Boeing and Airbus said they would cut off spare parts and technical support to Russia's airlines. The aircraft makers account for the vast majority of Russia's passenger fleet.

Seven Russian banks that have a direct link with the defence sector has been banned from the SWIFT payment system. The boycotts also endanger ultra-rich Russians who own possessions across Europe and send their children to elite European private schools. Some have started, albeit tentatively, to speak out.

Russian billionaire Roman Abramovich on Wednesday informed that he is trying to sell the Premier League Chelsea soccer club, with a price tag of at least USD 2.5 billion floated. He declared that net proceeds from the sale will be donated to aid victims of the Ukraine war.