Visa and Mastercard halt services in Russia amidst Ukraine crisis

Visa and Mastercard halt services in Russia. Following Russia’s unprovoked war against Ukraine, many firms are withdrawing from Russia. For over a week now, the war between Russia and Ukraine is under way. Russia is shelling Ukraine and disturbing its intergrity. Moreover, disturbing the peace across the globe.

As a result, many countries and firms are extending support to Ukraine and admonishing Russia. Countries in West are imposing sanctions on Russia and are providing military aid to Ukraine. Russia holds that the sanctions coming from the West are “akin” to declaration of war against Russia.

Multiple firms and corporations are withdrawing from Russia as well. For instance, different automobile firms have withdrawn from Russia. Thus, amidst the Ukraine crisis, Visa and Mastercard move out from Russia.

On a call with Zelenskyy, the Ukrainian president, the president of the US appreciates the move.

Effects as Visa and Mastercard halt services in Russia:

Al Kelly, chief executive officer of Visa says that Visa Inc. is compelled to withdraw services from Russia following its attempts to invade Ukraine.

Moreover, uncertainity already prevails in Russia as inflation is spiraling round the corner and there is sharp decline in imported goods.

Now, it is not possible to make transactions in the world with the cards issued in Russia. Additionally, cards from outside of Russia shall not be functional within the territory of Russia.