The decision from the finance company came after Visa and MasterCard announced Saturday that they would terminate operations in Russia.
"In light of Russia's ongoing, unjustified attack on the people of Ukraine, American Express is suspending all operations in Russia. As a result, globally issued American Express cards will no longer work at merchants or ATMs in Russia. Additionally, cards issued locally in Russia by Russian banks will no longer work outside of the country on the American Express global network. We are also suspending all business operations in Belarus," the company's statement said.
"This is in addition to the previous steps we have taken, which include halting our relationships with banks in Russia impacted by the U.S. and international government sanctions," the multinational corporation added. American Express announced that it would suspend services in Russia and Belarus in response to the Russian invasion of Ukraine, which has been aided by Belarus. A sticker pasted at the entrance of a business lets customers know that they accept American Express credit cards in Chicago.Belarus—a close ally of Moscow—has aided Putin in his invasion of Ukraine. International sanctions in response to Moscow's attack have targeted Belarus as well.
Al Kelly, chairman and CEO of Visa, said on Saturday that his company was"compelled to act," citing Russia's unprovoked aggression against Ukraine."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.
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