PayPal suspends service in Russia over ‘violent military aggression’

PayPal is suspending its services in Russia in response to the country’s “violent military aggression in Ukraine,” according to a report by Reuters† Ukrainian Deputy Prime Minister Mykhailo Fedorov tweeted a letter from PayPal CEO Dan Schulman, confirming the company’s decision to shut down its operations in Russia.

“Under the current circumstances, we are suspending PayPayl services in Russia,” Shulman said in the letter. “We are also doing everything we can to support our employees in the region during this very difficult time.”

Such as Reuters notes, PayPal was only available in Russia for cross-border payments. It stopped accepting new Russian users earlier this week, but has now made the sweeping decision to shut down its services altogether — a move that also includes PayPal-operated money transfer service, Xoom.

With the financial sanctions imposed by the US, UK, European Union and many others, some Russian users may not have been able to use their bank card to make payments through PayPal. The sanctions have already cut some users off Apple Pay and Google Pay as they target Russia’s largest financial institutions, preventing bank customers from making card payments to companies and services registered in countries that have imposed sanctions.

The edge contacted PayPal with a request for comment, but didn’t hear back immediately.

Frank Broholm had acquired considerable experience in writing and editing publications before recruited by The Media Today Chronicle News portal as Editorial Manager. His key task is to conduct effective business reviews based on the most recent business…