PayPal, like all the other US based giants viz. Google, Apple, MasterCard and Visa, is going to stop operations in the sanction hit Crimea peninsula from this February.
“Unfortunately, currently we are not able to provide our services to the clients in Crimea. We apologize for any related inconveniences,” a PayPal spokesperson told Russian media agency TASS. This move comes in right after the US president, Barack Obama, placed a sanction on Crimea, which he claims was annexed forcefully by Russia. As a result, all the US companies who operate in the region are stopping services in the peninsula for an indefinite period. Earlier this week, Google stopped AdSense, AdWords and Play Store. MasterCard and Visa had stopped operations in the region since last year.
PayPal, owned by online retail giant eBay, is an e-commerce company that allows payments to be made using the internet. Thus making payments is really easy for people who frequently shop online or need an easy way to transfer money without having to leave the comfort of their homes.
This will be a very big issue for people who use PayPal in the peninsula. They’ll either have to use online payment systems that the Russian government approves, for example PayOnline System, or have to register new accounts from the rest of Russia, where these services can still be accessed.
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