Visa Inc. and Mastercard Inc. are suspending their operations in Russia, a coordinated attempt that threatens to further isolate the economy from the international community following President Vladimir Putin’s decision to invade Ukraine.
In separate statements that arrived within minutes of each other on Saturday, Visa cited “Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed,” while Mastercard referred to the “unprecedented nature of the current conflict and the uncertain economic environment.”
Each company gets about 4% of its net revenue from business linked to Russia.
