Visa Suspends All Russia Operations

SAN FRANCISCO, CA (STL.News) Visa Inc. (NYSE: V) Saturday, March 6, 2022, announced it is suspending its Russia operations.

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

“We are compelled to act following Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed,” said 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.  This war and the ongoing threat to peace and stability demand we respond in line with our values.”

NOTE: We strongly encourage companies worldwide to pull away from Russia for companies that have not taken similar action but can.