Biden supported the decision of Visa and Mastercard to suspend work in Russia

US President Joe Biden , during a telephone conversation with Ukrainian President Volodymyr Zelensky, noted the efforts of American businesses to increase the costs to RUSSIA, and also welcomed the decision of Visa and Mastercard to suspend activities in Russia. This was reported on the website of the White House.

“President Biden highlighted the ongoing actions being taken by the United States, its allies and partners, and private business to increase the cost to Russia of its aggression in Ukraine. In particular, he welcomed the decision taken tonight by Visa and Mastercard to suspend services in Russia.

Earlier in the day, Visa and Mastercard payment systems announced the suspension of all transactions in Russia. “We are compelled to do so after Russia’s unprovoked invasion of Ukraine and the unacceptable actions we have witnessed,” Visa CEO Al Kelly said. The companies also noted that any Mastercard or Visa card issued outside the country will not work in Russian stores or ATMs.

In turn, the Russian Central Bank reported that Visa and Mastercard payment cards of Russian banks will continue to work in Russia "as usual". “All cards of Visa and Mastercard international payment systems issued by Russian banks will continue to work in Russia as usual until their expiration date. Operations on them are processed within the country in the National Payment Card System, and sanctions do not affect them. Client funds on accounts linked to such cards are fully preserved and available,” the regulator said in a statement.