Visa suspends all Russia operations in following sanctions

The digital payments company, Visa has announced suspension of all Russia operations effectiviely immediately.

Visa says in a press release copied to Ghana Business News that it will work with its clients and partners within Russia to cease all Visa transactions over the coming days.

“Once complete, all transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa cards issued by financial institutions outside of Russia will no longer work within the Russian Federation,” the release said.

Commenting, Al Kelly, chairman and chief executive officer of Visa Inc, said: “We are compelled to act following Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed.

“We regret the impact this will have on our valued colleagues, and on the clients, partners, merchants and cardholders we serve in Russia. This war and the ongoing threat to peace and stability demand we respond in line with our values.”

Russia has come under floods of sanctions following its military attack on Ukraine.

By Emmanuel K. Dogbevi
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