Visa, Mastercard halt operations in Russia over Ukraine invasion, Russia-Ukraine Conflict News
New York – In a show of solidarity to Ukraine following Moscow’s invasion, Card payment giants Visa and MasterCard have now announced a suspension of operations in Russia. These are the latest US firms to join the business freeze out of Moscow of its military aggression in Ukraine.
Visa in a statement says that it will work with its clients and partners within Russia to seize all transactions over the coming days. Under the new suspension, Visa and MasterCard cards issued abroad will no longer work in Russia.
Both companies have said that they are complying with the US and other international sanctions imposed on Russia in the wake of the attacks. Payment company PayPal has also announced a halt in its transaction services in the country.
The development comes just a day after the home-sharing firm, Airbnb and online travel agency booking.com announced similar measures in Russia. Airbnb his co-founder Brian Chesky, tweeted on Thursday, saying that the company is stopping all operations in Russia and Belarus due to Russia’s military actions.
Meanwhile, on the aviation front Russian flag carrier Aeroflot said on Saturday that it will hold its operations abroad in compliance with the latest government instruction. The development came shortly after the country’s federal Air Transport Agency issued a directive that blocks more than half of the aircraft in Russian fleets from flying on international routes.
Related:- Chinese Firms Staying Put in Russia despite Exodus from Western Companies |News In Bollywood
This is in response to the West’s move to blocking airspace from Russian airlines. Aeroflot will however continue its flight services to the Belarusian capital of Minsk. Belarus has remained a close ally of Russia all through the crisis and has worked as a base for Russian troops amid the conflict.
Image via – Youtube.com Screenshot
