Card payment giants Visa and Mastercard announced they will suspend operations in Russia.
Visa and Mastercard join major corporations across a range of industries that have halted business in Russia.NEW YORK - Card payment giants Visa and Mastercard announced they will suspend operations in Russia, the latest major US firms to join the business freeze-out of Moscow over its invasion of Ukraine.
US President Joe Biden"welcomed the decision" during a phone call with his Ukrainian counterpart Volodymyr Zelensky in which the two discussed US, ally and private industry actions to deter Russia from aggression, according to a White House readout. "Our colleagues, our customers and our partners have been affected in ways that most of us could not imagine," Mastercard said, stating that its cards issued by Russian banks would no longer be supported by the company's network.Both companies said cards issued abroad would no longer work in Russia."We are compelled to act following Russia's unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed," Visa CEO Al Kelly said.
Sberbank said in a statement on its official Telegram account that the cards"can be used for operations in the Russian territory -- to withdraw cash, make transfers using the card number, and for payment at offline as well as at online Russian stores."
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