Mastercard and Visa are suspending their operations in Russia, the companies have said⛎, in the latest blow to the country's financial system after its invasion of Ukraine.
Ma♋stercard Saturday said cards issued by Russian banks will no longer be supported by its network and any card issued outside the country will not work at Russian sto🉐res or ATMs.
“We don't take this decision lightly,” Mastercard said in a statement, adding that it made the move after discussions with customers, p🍌artners and governments.
Visa said it's working with clients and partners in Russia to ce𝓰ase all Visa transactions over the coming days.
&♐quot;We are compelled to act following Russia's unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed,” Visa Chairman and Chief Executive Officer Al Kelly s☂aid in a statement.
Many other companies around the world have also made moves to increase the financial pressure on Russia 🐈and its people because of its attack on Ukraine.
"This war and the ongoing threat to peace and stability demand we respond in line with our values," Kelly said.
