Another new sanction on Russia: Visa and Mastercard suspend their activities in Russia

Russia’s attacks on Ukraine continue at full speed. For this reason, a new one is added to the list of companies that impose sanctions every day. Many technology giant companies stopped their product sales and services in Russia. A new one has been added to these companies. Visa and Mastercard said in a statement that they are suspending their activities in Russia.

Visa and Mastercard , began work to stop all transactions in Russia

Visa and Mastercard’s announcement, Ukrainian President Volodymyr Zelensky’s meeting with US lawmakers It came shortly after both companies asked to cease operations in Russia. In an announcement on Visa’s website, the company said it is working with partners in Russia to “stop all transactions in the coming days.”

Mastercard’s separate press release contains a similar message, stating that it is suspending services in Russia and that its decision was not taken “lightly”. Both companies explain that transactions made with Mastercard or Visa cards issued by banks in Russia will not work outside of Russia, and cards issued by banks outside the country will not work in purchases or ATMs in Russia.