US-based Visa and Mastercards cease their operation in Russia

New Delhi : Russia-Ukraine war has resulted in more devastation for companies and people across the nations. In a recent update, United States based payment companies Visa and Mastercards have announced to cease their operations in Russia.

The decision has been taken amid United States supporting Ukraine in war against Russia.

With this, payments for visa and mastercards will remain suspended for transaction to and from Russia.

Ukraine President Volodymyr Zelenskyy spoke with POTUS Joe Biden and welcomed the decision by Visa and Mastercards on Russia.

"Zelenskyy welcomed the decision this evening by Visa and Mastercard to suspend service in Russia," said White House.

A large number of sanctions have been imposed on Russia after it invaded Ukraine around 10 days back.