PayPal has suspended services in Russia, Reuters said, quoting the U.S. payments company's chief executive, Dan Schulman.

"Under the current circumstances we are suspending PayPal services in Russia," Schulman told the agency.

The company, in its announcement, cited "current circumstances" and joined many international financial and technology companies in suspending operations in Russia following its military attack on Ukraine.

PayPal is expected to support withdrawals by Russian customers for a certain period of time.

A day earlier, PayPal said it had raised more than $150 million for charities in Ukraine since the Russian invasion began.