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Visa, Mastercard suspend operations in Russia

Card payment giants Visa and Mastercard announce they will suspend operations in Russia, the latest major US firms to join the business freeze-out of Moscow over its invasion of Ukraine.

Mastercard says that “noting the unprecedented nature of the current conflict and the uncertain economic environment,” it has “decided to suspend our network services in Russia.”

Visa, for its part, says that “effective immediately” it will “work with its clients and partners within Russia to cease all Visa transactions over the coming days.”

Illustrative: Logos for MasterCard and Visa credit cards at the entrance of a New York coffee shop (AP Photo/Mark Lennihan, File)

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