PayPal suspends services in Russia over Ukraine invasion

PayPal Holdings Inc., has suspended services in Russia over the Ukraine invasion, citing the ‘current circumstances.’

PayPal had already stopped accepting new users from Russia earlier this week on Wednesday.

“Under the current circumstances, we are suspending PayPal services in Russia,” PayPal’s President & CEO Dan Schulman said in a statement. PayPal “stands with the international community in condemning Russia’s violent military aggression in Ukraine,” he continued.

Ukrainian government officials had earlier urged PayPal to suspend its services in Russia and support Ukraine through fundraising.

PayPal has helped raise over $150m for charities supporting Ukraine, the Company said on Friday.

The Company is also suspending its international money-transfer network service Xoom in Russia.

Previously, payment card networks, Visa Inc., and Mastercard Inc., had stopped accepting transactions from sanctioned Russian institutes.