In another blow to Russia's financial system, Visa and Mastercard have announced to suspend all operations in the country in the wake of Ukraine invasion.
Visa said that it will work with its clients and partners within Russia to cease all Visa transactions over the coming days.
Once complete, all transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa card issued by financial institutions outside of Russia will no longer work within the Russian Federation, the company said late on Saturday.
"We are compelled to act following Russia's unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed," said Al Kelly, chairman and CEO of Visa.
"We regret the impact this will have on our valued colleagues, and on the clients, partners, merchants and cardholders we serve in Russia," he added.
Mastercard also decided to suspend its network services in Russia.
"This decision flows from our recent action to block multiple financial institutions from the Mastercard payment network, as required by regulators globally," said the company.
Mastercard has operated in Russia for more than 25 years.
"We have nearly 200 colleagues there who make this company so critical to many stakeholders. As we take these steps, we will continue to focus on their safety and well-being, including continuing to provide pay and benefits," Mastercard said.
The company said its cyber and intelligence teams will continue to work with governments and partners around the world "to ensure that stability, integrity and resiliency of our systems continue to guide our operations and response to potential cyber-attacks".
Drugs valued at Rs 105 crore seized in Assam; 3 arrested
The Assam Police have seized drugs valued at Rs 105 crore along the inter-state border with Mizoram in Cachar district, an official said on Sunday, adding three persons were also arrested in this connection.
Human trafficking suspect wanted by NIA arrested in Tripura
The Tripura Police on Sunday arrested a human trafficking suspect who was on the 'wanted list' of the National Investigation Agency (NIA), an official said.
PM Modi 'deeply concerned' at Iran President's helicopter incidentv
Prime Minister Narendra Modi on Sunday expressed his "deep concern" at Iranian President Ebrahim Raisi's helicopter going missing after making a "hard landing" and prayed for his well-being.
PM Modi says 'this is Bharat's moment'; urges youth to 'dream big'
Prime Minister Narendra Modi, outlining the importance of ‘thinking big and thinking ahead of time’, on Sunday said that this is Bharat’s moment and we must not lose it.
Indian stock markets will break all records on June 4: PM Modi
Once the Lok Sabha election results are declared on June 4, the Indian stock markets will break all previous records, Prime Minister Narendra Modi said on Sunday.
AAP on streets to save accused, says Swati Maliwal
AAP Rajya Sabha member Swati Maliwal on Sunday while reflecting on the past 12 years since the horrific Nirbhaya case, said that 'they are now out on the streets to save the accused who made the CCTV footage disappear and formatted the phone'.
Captain Gopichand, five others set to fly to edge of space aboard Blue Origin mission
Captain Gopichand Thotakura, along with five others, is set to fly to the edge of space on Blue Origin's crewed flight mission on Sunday evening.
Air India Express flight's engine catches fire, makes emergency landing
The Air India Express flight from Bengaluru to Kochi had to make a full-scale emergency landing at Bangalore International Airport Limited (BIAL) due to a fire in one of its engines.