10 May 2023 By PAYCEC
Regrettably, Apple Pay is unavailable in Russia due to economic sanctions imposed by the US and EU. Reuters reported that Apple Pay no longer supports the Mir card payment system, which closed a loophole that previously allowed Russians to continue using the service. Many
Because of financial sanctions imposed on Russia’s banks, including VTB Group, Sovcombank, Novikombank, Promsvyazbank, and Otkritie FC Bank, Russian consumers have been barred from using Google Pay. Visa and MasterCard suspended their operations in Russia earlier this month, preventing Russians from using their credit or debit cards outside the country or for international online payments.
Business Insider added that Russian customers are unable to use their credit cards outside of Russia and cannot make online payments to companies registered in sanctioned countries. The Russian invasion of Ukraine caused a “Black Swan” event in the stock market, resulting in a sell-off of technology stocks.
If the US government forbids the sale of hardware or software to Russia, any company doing business in the nation will suffer. In Russia, Apple would be unable to sell iPhones, deliver operating system updates, or run the App Store.
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