March 3, 2022
Cross-border payment platform, PayPal has stopped accepting new users in Russia.
Following Russia’s invasion of Ukraine and the Ukrainian government’s pleas, PayPal has taken several steps to sanction Russia. This includes blocking some users and some of the country’s biggest banks from conducting cross-border transactions.
According to a PayPal spokesperson who confirmed the new decision, the company is still navigating the implications of sanctions.
PayPal is supporting users in Ukraine via cross-border transactions and its Xoom service for international money transfers.
“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 stated in a statement.
PayPal has however refused Ukraine’s call to help raise funds for the Armed Forces of Ukraine. This is because the organization’s policy does not support using funds for firearms and ammunition.
For more information, read the original story in Reuters.
