Mastercard, Visa suspend operations in Russia after invasion

By STAN CHOE
AP Business Writer

NEW YORK (AP) — Mastercard and Visa are suspending their operations in Russia. It’s the latest blow to Russia’s financial system after its invasion of Ukraine. Mastercard said Saturday its cards issued by Russian banks will no longer be supported by its network and any Mastercard issued outside the country will not work at Russian stores or ATMs. Visa said it’s working with clients and partners in Russia to cease all Visa transactions over the coming days. Many other companies around the world have also made moves to up the financial pressure on Russia and its people because of its attack on Ukraine.