“Declined”: Mastercard and Visa Suspend Operations in Russia Over Invasion of Ukraine

“Declined”: Mastercard and Visa Suspend Operations in Russia Over Invasion of Ukraine

  • The Russian economy has been dealt another blow after Mastercard and Visa announced they would cease operations in the country
  • Sanctions in combination with a number of multinational companies ceasing operations in Russia has resulted in the Russian economy going into freefall
  • The chief of the Central Bank of Russia announced that Russian economy was under significant stress

PAY ATTENTION: Click “See First” under the “Following” tab to see YEN.com.gh News on your News Feed!

MOSCOW - Mastercard and Visa have suspended their operations in Russia due to the unprovoked invasion of Ukraine.

This latest blow to the Russian economy means that Mastercard credit cards will no longer work at Russian merchants or at bank ATMs.

Visa has also said that it would cease all transactions in the near future. Visa credit cards issued outside of Russia would no longer work inside the country according to SABC News.

Read also

Russian-Ukraine war: Deputy Foreign Minister meets Ghanaian students on GoG scholarship in Hungary

Mastercard, Visa, Russia, Ukraine, economy, sanctions
Visa and Mastercard have suspended their services in Russia. Photo credit: Ulrich Baumgarten, Kyodo News Stills
Source: Getty Images

A growing list of international companies is suspending their operations with Russia due to its aggressive unprovoked invasion of a sovereign state. Puma, IKEA, Apple and Microsoft have joined in the condemnation of Russia's invasion and ceased operations in the country according to The Sun.

Download YEN's news app on Google Play now and stay up-to-date with all major Ghana news

Elvira Nabiullina, the chief of the Central Bank of Russia wore black during a press conference. She admitted that the Russian economy was under extreme stress.

The Central Bank has lost access to approximately $630 billion (R9.7 trillion) due to sanctions, which could have helped protect the rouble.

Deputy Foreign Minister Meets Ghanaian Students in Hungary Amid Russian-Ukraine War

Earlier, YEN.com.gh reported that the Deputy Minister for Foreign Affairs and Regional Integration, Hon Thomas Mbomba, has met with Ghanaian students in Hungary amid the Russian-Ukraine war.

Read also

24 more Ghanaians who fled Russia’s invasion of Ukraine arrive in Ghana

The Minister, who doubles as a Member of Parliament for Tatale Sanguli in the Northern Region, visited Hungary to meet all stakeholders involved in the temporary resettlement of stranded Ghanaian students from Ukraine in Hungary.

In a post on Twitter, the Ministry for Foreign Affairs said Hon Mbomba met with the students on the Government of Ghana scholarship.

Source: YEN.com.gh

Online view pixel