US company Visa said it was set to suspend its work on the territory of Russia, the company said in a statement on Saturday.
"Effective immediately, Visa 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 cards issued by financial institutions outside of Russia will no longer work within the Russian Federation," the statement says.
Visa Chairman and CEO Alfred Kelly said the decision has been made amid the latest developments in Ukraine.
