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American Express quits Russia After Visa and Mastercard exits

On Sunday, American Express said that it was suspending all activities in Russia and Belarus, joining a growing list of Western companies boycotting the country in response to Moscow’s invasion of Ukraine.

“In light of Russia’s continued, unjustified war on the people of Ukraine,” the credit card firm said in a statement on its website.

“We’re also shutting down all of our businesses in Belarus,” American Express added.

American Express follows Visa Inc and Mastercard Inc, both of which announced the suspension of their Russian operations the day before, as well as PayPal Holdings Inc, a payments business.

American Express said that its worldwide issued cards would no longer be accepted at retailers or ATMs in Russia. Furthermore, cards issued by Russian banks in Russia would no longer work on American Express’s network outside of Russia.

The company claimed it had already cut ties with Russian institutions that are subject to US and international sanctions.

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