Visa, Mastercard suspend all operations in Russia, 'effective immediately'

"Effective immediately, Visa will work with its clients and partners within Russia to cease all Visa transactions over the coming days," Visa said in a

. "Once complete, all transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa cards issued by financial institutions outside of Russia will no longer work within the Russian Federation."Al Kelly, chairman and chief executive officer of Visa Inc.

"We regret the impact this will have on our valued colleagues, and on the clients, partners, merchants and cardholders we serve in Russia," Kelly said. "This war and the ongoing threat to peace and stability demand we respond in line with our values."Mastercard said in a statement Saturday that it also made the decision to suspend services in Russia due to the "unprecedented nature of the current conflict.

Russia continues to launch airstrikes, shelling, and military operations inside Ukraine in an invasion that has resulted in a humanitarian crisisVolunteers of the civil protection load humanitarian aid onto a truck for the victims affected by the Russian invasion Between Feb. 24 and midnight on Friday, the U.N. recorded 1,085 civilian casualties in Ukraine, including 351 killed and 707 injured. Among those killed were 71 men, 41 women, eight boys, and four girls, as well as 217 adults and 10 children whose sex could not immediately be determined, according to the Office of the U.N. High Commissioner for Human Rights .

How will this affect the people in Russia that are agents the war?

Russia is facing the reality of the New World Order

⚫︎Socialism is a dictatorship. The life of a dictator is 'always' scary. Humans feel happy only when they are safe. So, under the dictator has survival but not happiness. ⚫︎RUS and UKR and the war are theirs. Never make a reason for your land to be attacked by RUS. 🕊🕊🕊

Russia is bankrupt

It’s absolutely foolish decision. Vis/master suspend only outside use of RUS cards not in Russia 😂😂😂 But simultaneously they punished all foreigners in Russia diplomats, humanitarian missions, etc because they use foreign bank issued cards that will be suspended in Russia

Wasn’t immediately needed like a week ago?

It only took a week. Great job Visa

What took them so long?

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