US sanctions on Russia’s Gazprombank disrupt card services in Hungary, Turkey, and UAE
UnionPay cards issued by Russia’s 'Gazprombank' have stopped being serviced in Hungary, Turkey, and the United Arab Emirates. This comes after the bank was added to a new list of US sanctions.
Russian media outlets report that OTP Bank in Hungary is not processing these cards. When it comes to Turkey and the UAE, reports simply mention that “banks have stopped” servicing them.
In particular, attempts to withdraw money using these cards in Turkey and the Emirates prompt ATM warnings about technical errors or notifications that the card is not supported.
'Gazprombank' holds the position of the third largest bank in Russia. Besides this financial giant, sanctions also target six of its subsidiaries operating overseas. More than 50 Russian banks with international ties, 40 Russian securities registrars, and 15 officials from the financial sector, including Russia's Central Bank, have been slapped with these sanctions.
Hungary's Foreign Affairs Minister, Péter Szijjártó, stated that sanctions against Russia’s 'Gazprombank' threaten the energy security of certain Central European countries. He regards the US decision as an “attack on Hungary’s sovereignty.”