American payment firms Visa and Mastercard decided to suspend their operations in Russia this March 5, in light of the country’s military offensive in Ukraine.
Mastercard decided to suspend its service network in Russia, while Visa will block all its transactions over the next few days, the two banking services announced in press releases.
Additionally, Western European countries decided in recent days to block some Russian banks from the SWIFT international payments system.
Hong Kong’s Crypto Exchange Binance company also announced that it will not accept payments from Russian banks.
Recently, many countries in Europe, America, and Asia took strict measures regarding trade and economy with Russia, in a move to demonstrate solidarity with Ukraine, following the ongoing Russian conflict.
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