PayPal suspends services in Russia amid Ukraine aggression

Amid the ongoing conflict in Ukraine, PayPal has temporarily stopped providing its services in Russia, according to . In one Discovered , Deputy Prime Minister of Ukraine Mykhailo Fedorov shared a letter from PayPal CEO Dan Schulman confirming the move. “In the current circumstances, we are suspending the PayPal service in Russia,” Schulman stated in the letter. “PayPal supports the Ukrainian people and stands with the international community in condemning Russia’s brutal military aggression in Ukraine.”

A PayPal spokesperson told Reuters the company will continue to allow withdrawals “for a period of time, ensuring that account balances are dispersed in accordance with applicable laws and regulations.” Prior to Saturday’s latest decision, the company had previously stopped accepting new Russian users as of March 2. PayPal’s current suspension includes the Xoom money transfer service. It’s remarkable has prevented Russian consumers from buying online from registered retailers in the US and EU, so the suspension may not be as disruptive as one might think.

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