Mastercard will continue to work with regulators in coming days, the company said in a statement. It also promised to contribute US$2 million for humanitarian relief.

Separately, Visa said in a statement that it is taking action to ensure compliance with sanctions and would also comply with any additional sanctions that may be implemented.

On Saturday, the US and its allies said they would take action against Russia’s central bank and bar some of the country’s banks from the SWIFT international payments system.

Russia calls its actions in Ukraine a “special operation”.

Russians rushed to ATMs and waited in long queues on Sunday amid concerns that bank cards may cease to function, or that banks would limit cash withdrawals after Western sanctions.