World

American Express suspends operations in Russia and Belarus – Henry Club

March 7, 2022
Bharat Times English News

On Sunday, the company said in a statement that American Express cards issued globally will no longer work in Russia, and cards issued in Russia will no longer work outside the country.

American Express also said it was ending its business operations in Belarus.

“This is in addition to previous steps we have taken, including terminating our relationship with banks in Russia affected by US and international government sanctions,” American Express said in a statement on Sunday.

Other credit card companies took similar steps later this week.

master card ,M.A, said on Saturday it was suspending its network services in Russia. Cards supported by Russian banks will not work in MasterCard’s network, and any card issued outside Russia will not work within the country.

“Our partners, our customers and our partners have been affected in a way that most of us could not have imagined,” Mastercard said in a statement on Saturday. “This decision follows our recent action to block multiple financial institutions from the MasterCard payment network, as required by regulators globally.”

The company, which has operated in Russia for more than 25 years, previously announced that it had “blocked several financial institutions” from its network as a result of sanctions on Russia and is “working with regulators in the coming days”. Is”. will continue.”

Visa ,v, said on Saturday it was suspending all its operations in Russia. Over the next few days, it will end all Visa transactions within Russia, and Visa cards issued in Russia will no longer work outside the country. In addition, not all Visa cards around the world “will work within the Russian Federation,” Visa said.

“We are sorry for the impact our valued partners and customers, partners, merchants and cardholders have on service in Russia,” Visa President and CEO Al Kelly said in a statement on Saturday.