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Article

9 Mar 2022

Author:
Sky News

Visa, Paypal, Samsung, Puma & Zara parent company among the latest to halt business in Russia

Ukraine invasion: Visa, Paypal, Samsung, Puma and Zara parent company among the latest to halt business in Russia, 5 March 2022

Payments giant Visa has become the latest high-profile company to cut ties with Russia, saying that "all transactions" will cease over the coming days.

Its decision is "effective immediately", it said in a statement, adding that once the process has been completed, "all transactions initiated with Visa cards issued in Russia will no longer work outside the country"...

Paypal, Samsung, Puma and the parent company of fashion chain Zara have also deserted Russia.

Payments company Paypal shut down its services in Russia on Saturday, blaming "the current circumstances". President and chief executive Dan Schulman said the firm "stands with the international community in condemning Russia's violent military aggression in Ukraine".

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Ukraine: Global outrage over Russian invasion leads to sanctions, demands for businesses to divest

Ukraine: Global outrage over Russian invasion leads to sanctions, demands for businesses to divest