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American Express suspends operations in Russia, Belarus

Reuters
American Express suspends operations in Russia, Belarus

AMERICAN EXPRESS. The American Express logo is seen in Los Angeles, California, April 25, 2016.

Lucy Nicholson/Reuters

American Express follows US counterparts Visa and Mastercard, as well as PayPal Holdings

WASHINGTON, USA – American Express Company said on Sunday, March 6, it was suspending all operations in Russia and Belarus, joining a growing number of Western corporations to boycott business there over Moscow’s invasion of Ukraine.

“In light of Russia’s ongoing, unjustified attack on the people of Ukraine, American Express is suspending all operations in Russia,” the credit card company said in a statement on its website.

“We are also terminating all business operations in Belarus,” American Express said.

American Express follows US counterparts Visa and Mastercard, which announced a suspension of their Russian operations the previous day, as well as payments company PayPal Holdings.

American Express said its globally issued cards would no longer work in Russia at merchants or at automated teller machines. In addition, cards issued by Russian banks in Russia would no longer work outside the country on American Express’ network.

The company said it has already suspended its relationships with Russian banks affected by US and international sanctions. – Rappler.com