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PayPal ceases to operate in Russia

The company also helped raise more than $ 150 million for charitable organizations that support Ukraine.

PayPal ceases to operate in Russia

Reuters reported that PayPal Holdings Inc had joined several financial and technology companies and ceased operations in Russia. 

"We are suspending PayPal services in Russia under the current circumstances," said President and CEO Dan Shulman.

He added that the company "supports the international community in condemning Russia's violent military aggression in Ukraine".

A company spokesman added that PayPal would support the withdrawal "for a specified period, ensuring the distribution of account balances under applicable laws and regulations".

Since the beginning of the war, PayPal has helped raise more than $ 150m for charities that support Ukraine.

Yesterday the Microsoft company also declared the termination of work in Russia.

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