Paypal extends support to Ukraine, suspends services in Russia over military aggression
Kiev (Ukraine), March 7: American Payment company Paypal Holding Inc has suspended its services in Russia, citing Moscow's 'violent military aggression in Ukraine', informed Paypal President and CEO Dan Schulman in a letter to the Ukrainian government.
In the letter addressed to Deputy Prime Minister of Ukraine Mykhailo Fedorov, who is also the Minister of Digital Transformation of Ukraine, the American firm stated, "PayPal supports the Ukrainian people and stands with the international community in condemning Russia's violent military aggression in Ukraine."
"Under the current circumstances, we are suspending PayPal services in Russia. We are also doing all that we can to support our staff in the region during this deeply difficult time," it added.
"We received a letter from @Dan_Schulman, CEO PayPal. So now it's official: PayPal shuts down its services in Russia citing Ukraine aggression. Thank you @PayPal for your support! Hope that soon you will open it in for Ukraine," the Deputy Prime Minister, Mykhailo Fedorov said on Twitter.
The letter also mentioned Paypal's campaigns in support of the humanitarian effort in Ukraine.
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The letter further added, "In the days since we launched our 'consumer-focused giving' campaigns several million dollars have been donated by our customers to international relief charities providing humanitarian aid within Ukraine and refugee support. These relief organizations include the International Rescue Committee (IRC) UN High Commissioner for Refugees (UNHCR), Direct Relief and Save the Children and many others working on the ground in Ukraine and with refugees in surrounding nations."
Earlier on Tuesday, American tech giant Apple also suspended all product sales in Russia and limited Apple Pay and other services in the country due to the military offensive in Ukraine. A number of other companies including Meta, Google, TikTok and YouTube have also extended support for Ukraine by blocking Russian state-owned media outlets RT and Sputnik in Europe.
After Russia's invasion of Ukraine, the US and its European allies have introduced sanctions targeting several major Russian banks and high-rank Russian officials, that include President Vladimir Putin, besides ousting Russia from the SWIFT financial system.
Financial sanctions and travel bans have been imposed on Russia by a number of countries, including Japan, South Korea and Australia. They're considering fresh targeted sanctions against Russia's most powerful political and military leaders, including asset freezes and travel restrictions.
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-PTC News
