Global credit card giants Visa and Mastercard announced on Saturday that they were suspending operations in Russia after the invasion of Ukraine.
“Due to the unprecedented nature of the current conflict and the uncertain economic environment, we have decided to suspend our service network in Russia,” Mastercard said in a statement.
Its competitor Visa simultaneously said in a separate statement that it “will work with its customers and partners in Russia to cease all Visa transactions in the coming days. »
“We are compelled to act in the wake of Russia’s unprovoked invasion of Ukraine and the unacceptable events we have witnessed,” said Al Kelly, CEO of Visa. , quoted in the press release.
Russian Visa and Mastercard bank cards will no longer be valid abroad, and cards issued abroad will no longer work in Russia, the two American groups said.
In recent days, Visa and Mastercard, as well as their competitor American Express, had already taken measures to prevent Russian banks from using their networks, in application of international sanctions decided after the invasion of Ukraine.
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