Visa and Mastercard cease operations in Russia

The two companies are suspending their services for credit card transactions in Russia

Screenshot 2022 03 06 16.58.54 Russia

The global credit card giants Visa and Mastecard announced on Saturday that they will stop all their activities in Russia, after the invasion of Ukraine.

Mastercard "decided to suspend (its) service network in Russia", while Visa will "suspend all transactions" with the cards it issues "in the coming days", according to press releases of the two companies.

The suspension of the two companies' activity came at the request of the Ukrainian President and is the latest in a series of severe sanctions against Russia.

Source: Reuters