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Monday, May 23, 2022

PayPal has suspended its services in Russia, condemning the country’s ‘violent military aggression’ in its invasion of Ukraine

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Ukrainian Vice Prime Minister Mykhailo Fedorov tweeted a letter from PayPal CEO Dan Schulman on Saturday announcing the shutdown. The financial services company is one of several US and European companies that have cut off business with Russia in recent days in response to its attacks against Ukraine.


“PayPal supports the Ukrainian people and stands with the international community in condemning Russia’s violent military aggression in Ukraine,” Schulman wrote in the letter. “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.”



PayPal did not immediately respond to Insider’s request for comment, but a spokesperson told The Verge that PayPal will “continue work to process customer withdraws for a period of time, ensuring that account balances are dispersed in line with applicable laws and regulations.”

The company’s service suspension also applies to its money transfer tool, Xoom.

PayPal had previously allowed Russian users to make cross-border payments before it stopped accepting new users in the country earlier this week.

The move came after Alexander Bornyakov, Ukraine’s deputy minister for digital transformation, called on PayPal to shut down in Russia earlier this week.

“If PayPal supports democratic values, it should go out from Russia,” Bornyakov told Reuters on Wednesday.



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