Arab Press

بالشعب و للشعب
Saturday, Aug 02, 2025

Visa and Mastercard suspend Russian operations

Visa and Mastercard suspend Russian operations

Visa and Mastercard have announced they will suspend all operations in Russia in protest at its invasion of Ukraine. The payments giants are pulling out of the Russian market in protest at its invasion of Ukraine.
Cards issued by Russian banks will no longer be supported by their networks, the payments giants said on Saturday.

Both firms have also said that cards issued abroad will no longer work at businesses or ATMs in Russia.

But Russia's major banks, including state-backed Sberbank, have already downplayed the impact the move will have on their clients.

"This war and the ongoing threat to peace and stability demand we respond in line with our values," Visa's chief executive, Al Kelly, said.

In a statement, Mastercard also described the ongoing invasion of Ukraine as "shocking and devastating".

"Noting the unprecedented nature of the current conflict and the uncertain economic environment," Mastercard said it had "decided to suspend our network services in Russia" on Saturday.

Together, the two companies control about 90% of credit and debit payments in the world, outside of China.

Russia's central bank insisted, however, that all Visa and Mastercard bank cards issued by Russian banks would continue to operate normally on Russian territory.

Russia's biggest state-backed bank, Sberbank, said similar, adding the cards would work "to withdraw cash, make transfers using the card number, and for payment at offline as well as at online Russian stores".

Cards will continue to work on Russian territory, the bank said, because all payments in Russia are made through a national system and don't depend on foreign systems.

Several Russian banks also suggested that they would start issuing cards that use the Chinese UnionPay system, coupled with Russia's Mir payment network, to avoid any impact for consumers.

Both Visa and Mastercard had already announced that they would comply with sanctions introduced by Western countries since the start of the conflict.

"Our colleagues, our customers and our partners have been affected in ways that most of us could not imagine," Mastercard said.

The card company has operated in Russia for more than 25 years. It confirmed that it would continue to pay the wages of its 200 staff members there.

Visa added: "We regret the impact this will have on our valued colleagues, and on the clients, partners, merchants and cardholders we serve in Russia."

US President Joe Biden "welcomed the decision" during a phone call with Ukrainian leader, Volodymyr Zelensky, according to a White House readout.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Qatar Airways Clears Backlog of Passengers Following Missile Threats
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
×