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American Express: suspension of operations in Russia

( - Like many other major US companies, on Saturday American Express announced its decision to suspend its operations in Russia and Belarus in response to the military offensive launched by Russia in Ukraine recently.

As a result, American Express cards issued worldwide will no longer work at merchants or ATMs in Russia. In addition, cards issued in Russia by Russian banks will not work outside the country on the American Express global network.

The payment solutions group also says that it has stopped its relations with Russian banks affected by the international sanctions, and has promised a donation of one million dollars for organisations helping the victims of the conflict.

For the record, American Express shares closed down almost 4% on Friday.

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