MasterCard and Visa have suspended operations in Russia.
The Associated PressMasterCard said cards issued by Russian banks will no longer be supported by its network and that any card issued outside the country will not work at Russian stores or ATMs.
Visa said it's working with clients and partners in Russia to cease all Visa transactions over the coming days. Russian people have already been hit hard by heavy sanctions and financial penalties imposed by the U.S. government and others.Since the invasion of Ukraine, the value of the Russian currency, the ruble, has plunged by more than a third to a record low. That's pushing up inflation for Russian households, and all the fear has helped cause some tremendously long lines at ATMs.
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