Russia's central bank has cancelled the licence of American Express's subsidiary in the country, at the payment company's request, according to Reuters.
AmEx suspended operations in Russia two years ago in response to the "unjustified attack on the people of Ukraine".
Russian President Vladimir Putin in May gave AmEx the green light to liquidate its local subsidiary, prompting an official application in July.
Now, according to Reuters, the central bank has cancelled the AmEx unit's banking licence.
AmEx was one of a host of FS firms - including PayPal, Mastercard and Visa - to shut don services in Russia in the wake of the Ukraine attack.