![Visa, Mastercard suspend operations in Russia](https://www.portugalcolonial.pt/media/shared/articles/5e/69/9a/Visa--Mastercard-suspend-operations-226245.jpg)
-
Multiple people shot along highway in US state of Kentucky
-
In Papua New Guinea, Pope holds mass 'at the edge of the world'
-
Hewett stays positive for wheelchair tennis despite agonising defeat
-
Three things on US Open champion Aryna Sabalenka
-
Sabalenka downs Pegula to win US Open thriller
-
USA slump to first home defeat against Canada in 67 years
-
Argentina hand Australia record 67-27 loss in Rugby Championship
-
England impress on Carsley bow, Germany, Dutch hit five
-
AFP photographer wins top prize for Gaza coverage
-
No Love for Packers for three weeks after ligament sprain: reports
-
Pedro Almodovar: chronicler of modern Spain crowned in Venice
-
Trump sounds dark tone at rally, Harris 'ready' for debate
-
Wirtz and Musiala dazzle to kick-start new Germany era
-
Chinese teenager takes 7th gold of Paris Paralympics
-
England interim boss Carsley 'respects' divided opinions over anthem
-
Neuville moves to the front in the Acropolis Rally
-
Garfield, Pugh charm Toronto in new romance 'We Live in Time'
-
21 boys confirmed dead in Kenya school inferno
-
Over 100,000 protest in France against new prime minister
-
Golden 30 minutes takes China to swimming Paralympics swimming domination
-
Green leads Australia to T20 series sweep of Scotland
-
Nigeria, Cameroon win afer chaotic AFCON build-ups
-
Nicole Kidman: A-lister, cinematic chameleon, wins in Venice
-
'I had to prove myself', says Kolisi after win against All Blacks
-
Almodovar wins top prize at Venice film festival
-
Grealish savours England redemption after 'worst summer'
-
Carsley makes flying start as England interim boss in win over Ireland
-
Springboks close on Rugby Championship with storming win over All Blacks
-
Sri Lanka's De Silva and Kamindu Mendis defy England in third Test
-
Farrell's Racing lose on opening day of Top 14
-
Dunbar takes second Vuelta stage as Roglic closes in on victory
-
Fritz eyes US Open glory to end 21 years of American hurt
-
Thousands protest in France against new prime minister
-
Trump to hold rally in swing state, Harris preps for debate
-
Stone at the double as Sri Lanka collapse against England in third Test
-
French tennis player takes legal action over online abuse
-
Italy backs Kyiv's 'legitimate defence' as Zelensky presses allies
-
The Body Shop rescued from administration after deal
-
Smoke and screams: The horror of Kenya's school dorm inferno
-
MotoGP leader Martin roars to victory in San Marino sprint
-
Ireland and UK to 'reset' relations as Starmer begins Dublin visit
-
Ma Lin turns brutal encounter with bear into glorious Paralympic career
-
Flintoff appointed England Lions head coach
-
Sri Lanka hit back as Pope falls during England collapse in second Test
-
Kyiv hits Russian ammo depot as Moscow advances in east
-
Italy PM states 'determined' support as Zelensky presses allies
-
Bagnaia claims pole for San Marino MotoGP with lap record
-
Meet the Woodhalls: Track and field couple light up Paralympics and Olympics
-
Gaza war in its 12th month with truce hopes slim
-
Boeing's beleaguered Starliner returns home without astronauts
![Visa, Mastercard suspend operations in Russia](https://www.portugalcolonial.pt/media/shared/articles/5e/69/9a/Visa--Mastercard-suspend-operations-226245.jpg)
Visa, Mastercard suspend operations in Russia
Card payment giants Visa and Mastercard announced Saturday they will suspend operations in Russia, the latest major US firms to join the business freeze-out of Moscow over its invasion of Ukraine.
"Noting the unprecedented nature of the current conflict and the uncertain economic environment," Mastercard said it had "decided to suspend our network services in Russia."
Visa, for its part, said that "effective immediately" it would "work with its clients and partners within Russia to cease all Visa transactions over the coming days."
Major corporations across a range of industries have halted business in Russia since its invasion began 10 days ago, including everything from US-based tech firms such as Intel and Airbnb to French luxury giants LVMH, Hermes and Chanel.
Visa and Mastercard had already announced that they were complying with US and international sanctions imposed on Russia in the wake of its attack.
"Our colleagues, our customers and our partners have been affected in ways that most of us could not imagine," Mastercard said, stating that its cards issued by Russian banks would no longer be supported by the company's network.
Visa similarly said that cards issued in Russia would no longer work outside the country.
Both companies said cards issued abroad would no longer work in Russia.
"We are compelled to act following Russia's unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed," Visa CEO Al Kelly said.
Russia's major banks, including its largest lender Sberbank and the Russia Central Bank, downplayed the effects that the cards' suspensions would have on their clients.
"All Visa and Mastercard bank cards issued by Russian banks will continue to operate normally on Russian territory until their expiration date," the Russia Central Bank said.
Sberbank said in a statement on its official Telegram account that the cards "can be used for operations in the Russian territory -- to withdraw cash, make transfers using the card number, and for payment at offline as well as at online Russian stores."
The cards would continue to work on Russian territory, it said, because all payments in Russia are made through a national system and do not depend on foreign systems.
However, the central bank warned that Russians traveling abroad should carry alternate means of payment.
Mastercard added that it would continue to provide pay and benefits to its nearly 200 employees in Russia.
X.Brito--PC