PayPal Stops Accepting New Users in Russia Amid Ukraine Crisis

PayPal had already blocked some users and some of Russia’s biggest banks following US sanctions.

PayPal Stops Accepting New Users in Russia Amid Ukraine Crisis

PayPal spokesperson said the company is still actively navigating the implications of sanctions

Highlights
  • US card, mobile payment firms have blocked Russian financial institutions
  • Ukraine has sought PayPal's help in soliciting donations
  • PayPal is supporting users in Ukraine through cross-border transactions
Advertisement

PayPal, which only allows cross-border transactions by users in Russia, had already blocked some users and some of the country's biggest banks following sanctions by the United States and other countries in response to Russia's invasion of Ukraine. Russia has called the move a "special operation."

In an interview with Reuters on Wednesday, Ukraine's deputy minister for digital transformation Alexander Bornyakov called on PayPal to take more sweeping action and shut down entirely in Russia.

"If PayPal supports democratic values, it should go out from Russia," he said.

The PayPal spokesperson said the company, like many of its peers, is still actively navigating the implications of sanctions.

US-based payment card firms Visa, Mastercard, and American Express along with mobile payment providers Apple Pay and Google Pay, have blocked multiple Russian financial institutions due to government sanctions. It could not be immediately learned whether any have blocked new Russian accounts.

Moscow has responded to sanctions by blocking foreign investors, who hold tens of billions of dollars worth of Russian stocks and bonds, from exiting.

Ukraine's Bornyakov and his colleagues also have sought PayPal's help in soliciting donations.

But Ukraine's emailed request to PayPal, seen by Reuters, focused on raising funds for the Armed Forces of Ukraine. PayPal bars uses tied to ammunition and firearms.

PayPal is supporting users in Ukraine through cross-border transactions and its Xoom service for international money transfers, the spokesperson said.

"Since this crisis began, PayPal has actively worked to enable donations to non-profit fundraising efforts in support of Ukrainian humanitarian relief efforts," the company said in a statement.

© Thomson Reuters 2022


Gaana CEO and Spotify's India chief join us on Orbital, the Gadgets 360 podcast, to discuss India's unique music streaming landscape. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: PayPal, Russia, Ukraine, Xoom
Google Play Pass: How to Get the Subscription-Based Service on Your Android Phone
WhatsApp Desktop Seems to Be Getting a New Way to React to Messages
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »