Western Union is the latest payments giant to suspend its operations in Russia and Belarus in response to what it calls an "unwarranted and unjustified invasion of Ukraine.

The money transfer giant joins the likes of PayPal, MasterCard, Visa and American Express in shutting down its services in Russia.

Western Union said in a statement that it assessed the consequences for employees, partners and customers before deciding to suspend operations "in light of the ongoing tragic impact of Russia's prolonged attack on Ukraine."

At the same time, the U.S. company is emphasizing support for its Ukrainian customers, including millions of forcibly displaced customers, through donations to support humanitarian relief efforts and free money transfer services.

Elsewhere, Wall Street players Goldman Sachs and JPMorgan Chase, who have said they will remove Russia, both said they are ending their operations in the country.