Visa and Mastercard suspend operations in Russia

Visa and Mastercard are cutting ties with Russia as Western sanctions continue to ravage the Russian economy in response to Vladimir Putin’s invasion of Ukraine.

The Independent reported that Visa and Mastercard are suspending operations in Russia “over the coming days.” Visa said that once its ban is in place Visa bank and credit cards issued in Russia will not work abroad and cards issued to people outside of Russia will not work inside the country.

Al Kelly, the CEO of Visa, said, “We are compelled to act following Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed.”