Visa suspends all operations in Russia

Visa has suspended all operations in Russia, according to a press release from the company.

Visa will be working with clients and partners within Russia to cease all transactions using Visa over the next few days, according to the press release.

The company said that transactions using Visa cards issued in Russia will no longer work outside the country, and transactions using Visa cards issued outside of Russia will no longer work in the country.

Al Kelly, chairman and chief executive officer of Visa Inc. said that the company felt compelled to take action.

“We are compelled to act following Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed,” Kelly said. “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.”