Impacts of Sanctions Regime? Russian Bank to Start Issuing Chinese Credit Cards

‘Russia’s LaitBank could issue approximately 10,000 China UnionPay cards next week, online newspaper Gazeta.ru reported Friday, citing an anonymous source at the bank.

A small private bank, Laitbank entered talks with UnionPay in 2012 and finally obtained the shipment of plastic cards from China on Thursday. The bank’s representative also said they are to receive another 50,000 cards over the next two months.’ Read more