German Exports to the U.S. Decline Sharply as Tariffs Reshape Trade in 2025 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
South Korea Central Bank Warns of Rising Financial Stability Risks Amid Won Volatility 
Asian Stocks Rise as Wall Street Tech Rally Lifts Markets, Yen Slumps Despite BOJ Rate Hike 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
RBA Signals Possible Interest Rate Hike in 2026 as Inflation Pressures Persist 
Mexico Antitrust Review of Viva Aerobus–Volaris Deal Signals Growth for Airline Sector 
California Regulator Probes Waymo Robotaxi Stalls During San Francisco Power Outage 
Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays 
Global Demand for Yuan Loans and Bonds Surges as China Pushes Currency Internationalization 
Wall Street Ends Higher as S&P 500, Nasdaq Extend Gains Ahead of Holiday Week 
Saks Global Weighs Chapter 11 Bankruptcy Amid Debt Pressures and Luxury Retail Slowdown 
Silver Prices Hit Record High as Geopolitical Tensions Fuel Safe-Haven Demand 
Moore Threads Unveils New GPUs, Fuels Optimism Around China’s AI Chip Ambitions 
U.S. Stocks End Week Higher as Tech Rally Offsets Consumer Weakness 
Yen Stabilizes Near Lows as Japan Signals Readiness to Intervene Amid Dollar Weakness 
John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training 
PayPal said last weekend that it would be shutting down its services in Russia and cited the current situation as its reason for the decision. With its announcement, the financial technology company has joined many other financial and tech firms in halting operations in the country after it launched attacks to invade Ukraine.
As per Fox Business, PayPal’s spokesman said that the company will still support withdrawals for a period of time to make sure that account balances are distributed based on the applicable laws and regulations. The company also stopped accepting new sign-ups in Russia last week.
In any case, it was said that the government officials of Ukraine have also been calling on PayPal to leave Russia and assist them with raising funds. It was learned that the company had already helped raise more than $150 million for charities since the start of the attacks. This was the company’s first response to the tragedy in Ukraine and was considered the largest assistance effort that the Ukrainians had seen in such a short period of time.
“PayPal supports the Ukrainian people and stands with the international community in condemning Russia’s violent military aggression in Ukraine. The tragedy taking place in Ukraine is devastating for all of us, wherever we are in the world,” part of the message that PayPal’s president and chief executive officer, Dan Schulman, shared with employees, reads.
He went on to say, “I want to share with you that we have suspended PayPal services in Russia. We have worked closely with governments and partners to actively comply with all applicable laws and sanctions and to fulfill our responsibilities to our global customers. We are also doing all we can to support our employees in Russia during this deeply difficult time.”
After the release of PayPal’s announcement of its service shut down in Russia, many groups praised the company and expressed their gratitude for its support. As mentioned on CNBC, PayPal is the latest payment system that has already cut ties with Russia, which is facing a series of sanctions from the West due to its invasion of Ukraine that was described to have been “unprovoked.”
Finally, Visa and Mastercard also discontinued their services recently, and this affected several Russian banks. The SWIFT also barred the country and this will block Russia from most financial networks worldwide.
