Online payments giant Paypal suspends services for Russian users.
A number of payment and remittance platforms, now including Paypal, have restricted access to their services in Russia as western sanctions over Moscow’s invasion of Ukraine continue to expand. Fintech companies have been limiting operations in the Russian Federation also in response to Kyiv’s call for help.Paypal, the global online payments provider, has joint a growing list of fintechs supporting western sanctions against Russia over its decision to invade neighboring Ukraine.
Through a spokesperson, Paypal added, however, that withdrawals will be supported for an unspecified period of time. The payments giant intends to “ensure that account balances are dispersed in line with applicable laws and regulations.”
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