US payments firms Visa Inc and Mastercard Inc on Saturday said they were suspending operations in Russia over the invasion of Ukraine, and that they would work with clients and partners to cease all transactions there.
Within days, all transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa cards issued outside Russia will no longer work within the country, the company said.
“President Biden noted his administration is surging security, humanitarian, and economic assistance to Ukraine and is working closely with Congress to secure additional funding,” a White House readout of the call added. Sberbank said its customers would be able to withdraw cash, make transfers, pay both in offline stores and Russian internet stores because transactions in Russia pass through the domestic National Payment Card System which does not depend on foreign payment systems, according to Tass.
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