America

American Express suspends operations in Russia and Belarus

March 7, 2022
Henry Club

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 the previous steps we have taken, including the cessation of 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”. Will continue.”

Visa ,v, Said on Saturday that 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, all Visa cards around the world “will no longer work within the Russian Federation,” Visa said.

“We regret the impact our valued associates and customers, partners, merchants and cardholders have on service in Russia,” Al Kelly, president and CEO of Visa, said in a statement on Saturday.