Coursera and PayPal stop working in Russia, and Revolut bans money transfers in Russia and Belarus

The international educational platform Coursera stops its activities in Russia due to its military invasion of Ukraine. All content created by the Russians of the platform will be removed in the near future, according to the company's blog. Fintech companies PayPal and Revolut also announced the termination or restriction of their activities in the Russian Federation.

Coursera statement on the war in Ukraine

"We are devastated and outraged by Russia's invasion of Ukraine. We support Ukraine, and our main concern is the safety of people in this region. We will not support the financial or reputational benefits of Russian instructors or institutions on Coursera while this tragedy occurs, and we will not seek to profit from doing business in the region in the face of this humanitarian crisis. As a result, we are suspending all business in Russia," Coursera CEO Jeff Majionkald said in a statement.

At the same time, the company takes the following measures in relation to business in Russia::

suspends all content from Russian universities and industry partners, including courses, specializations, and degrees. Content from Russian partners will no longer be available on the Coursera platform for new registrations;stops further cooperation with Russian institutions in Coursera for Business, Coursera for Government and Coursera for Campus;the platform will remain available in all regions where there are no government sanctions, but suspends the possibility for students in the Russian Federation to register for paid courses, and will not collect fees from any students or institutions in Russia.

In turn, the company supports students in Ukraine as follows::

cooperates with the Ministry of education and science of Ukraine to offer Coursera for Campus free of charge to all Ukrainian universities and their students. Universities and colleges in Ukraine can register to give all their students access to more than 5,200 courses and 2,200 managed projects from the company's leading universities and partners;the Coursera refugee program is available free of charge to non-profit organizations around the world, including those actively working in support of Ukrainian refugees, such as the UN High Commissioner for Refugees and the International Rescue Committee;for individuals who come to the Coursera platform, most courses are free for auditing, and students in need can receive financial assistance or scholarship exemption through Coursera. About PayPal and Revolut

Meanwhile, the international electronic payment system PayPal also announced the termination of operations in Russia.

"We received a letter from PayPal CEO Dan Shulman. Now it's official: PayPal stops its work in Russia due to military aggression against Ukraine," said Mikhail Fedorov, Minister of digital transformation.

In addition, according to him, PayPal customers have donated several million dollars to international charities that provide humanitarian aid in Ukraine and support displaced persons.

"Revolut has banned money transfers in Russia and Belarus," Fedorov also wrote.

Recall that Nick Stronsky, founder and CEO of the financial technology company Revolut, on March 1, publicly spoke about the war and announced a list of actions of his company aimed at financial support for Ukraine: instant charitable transfers to the Red Cross in Ukraine, cancellation of the commission for transfers to accounts in Ukraine, doubling all transfers to the Red Cross from clients.

Revolut was founded in 2015 by Russian Nikolai Storonsky and Ukrainian Vlad Yatsenko. The company is headquartered in London, and Stronsky himself has British citizenship.

Previously Samsung Electronics Co. it has suspended deliveries of all its products to Russia.

Before that, Microsoft temporarily stopped selling its products and services in Russia.