Western Union suspends operations in Russia, Belarus
Another company joins the growing number of businesses stopping their operations in Russia, following the latter's special military operation in Ukraine.
The Western Union payment system will stop money transfers in Russia and Belarus from March 24, to give its customers a 2-week period to prepare for the termination of the service, the company's spokesperson told RIA Novosti.
"Non-Banking Credit Organization Western Union MT East LLC, as a payment system operator in Russia, applied to the Central Bank of the Russian Federation with a request to exclude Non-Banking Credit Organization Western Union MT East LLC from the register of payment system operators from March 24, 2022. We are working with our partners 24/7, and our partners and customers will be able to prepare for a service stop within two weeks," the spokesperson said.
Transfers that will be sent to Russia and not paid to the recipient before March 24, 2022, will be returned to the sender, she added.
"We would like to emphasize that Non-Banking Credit Organization Western Union MT East LLC operates in strict accordance with all the requirements of Russian legislation, and all obligations to partners, contractors, and customers will be fulfilled in full," she concluded.
Sanctions on Russia amount to declaration of War: Putin
The wave of sanctions the West has been imposing on Russia as a consequence of its military operation in Ukraine is comparable with a declaration of war, Russian President Vladimir Putin said Saturday, March 5.
"These sanctions that are being imposed, they are akin to a declaration of war," Putin said at a meeting with female flight crews of Russian airlines.
Addressing NATO's aspirations to expand eastward through Ukraine's accession, Putin highlighted that if Kiev was a NATO member, it would be encouraged to invade Crimea, and its alliance allies would have no choice but support it.