PayPal Bans Operations in Russia

Everything is suspending operations in Russia, okay?

That’s the news.

They’re meant to be an isolated state, like North Korea.


PayPal Holdings Inc. halted its operations in Russia on Saturday morning. The online payments company has followed other finance and technology firms in leaving the country due to the military conflict in Ukraine.

Under the current circumstances, we are suspending PayPal services in Russia,” Chief Executive Dan Schulman said, adding that the company “stands with the international community in condemning Russia’s violent military aggression in Ukraine.”

A representative announced that the service would still support withdrawals for a period of time “ensuring that account balances are dispersed in line with applicable laws and regulations.”

On Wednesday, PayPal stopped accepting new users from Russia, and also blocked some Russian users and companies in compliance with internationally imposed sanctions. The service allowed Russian citizens to make only cross-border transactions.

Later that day, Ukraine’s deputy minister for digital transformation, Alexander Bornyakov, appealed to PayPal to take more drastic action and cease its operations entirely in Russia. In an interview with Reuters, he also called on the service to help raise funds for his country’s armed forces. However, PayPal bars all transactions related to ammunition and weapons.

The only thing that isn’t shutting down is Binance.

Everything else is shutting down and they’re going to be like North Korea.

I don’t actually think that Washington has a clear plan on this.