Mastercard, Visa suspend operations in Russia after invasion

Mastercard and Visa are suspending their operations in Russia after its invasion of Ukraine.

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“We don't take this decision lightly,” Mastercard said in a statement, adding that it made the move after discussions with customers, partners and governments. Earlier in the week, Visa and Mastercard had announced more limited moves to block financial institutions from the networks that serve as arteries for the payments system. Russian people have already beenSince the invasion of Ukraine, the value of the Russian currency, the ruble, has plunged by more than a third to a record low. That's pushing up inflation for Russian households, and all the fear has helped cause long lines at ATMs.

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