Payment company PayPal Holdings Inc announced the termination of work in Russia. This decision was made against the background of the Russian military operation in Ukraine, which began on February 24.
PayPal President and CEO Dan Schulmange said the company “supports the international community in condemning Russia’s violent military aggression.” “Under the current circumstances, we are suspending PayPal in Russia,” he said (quoted from Reuters).
PayPal will allow withdrawals “within a certain period of time” to ensure that any remaining money in the accounts “will be distributed in accordance with laws and regulations,” the company’s president clarified. On March 2, PayPal stopped registering new users from the Russian Federation.
