This is really not uncommon at all.
The lesson to be learned, is that you should not have invested so much money time and effort in going to work for this company.
This is a cost that you gave to them, in allowing them to hire you for less money than they would have to pay, if they had to hire locally (and thus, from a smaller pool of potential employees).
Mobility of capital, goods and employees only benefit the oligarchs, not the little people.
For me, being the COO and working remotely is the red-flag. That role typically requires being on the ground ASAP. Wouldn't you need a Green Card instead of just a visa?
If you are bothered by the decision, you could re-connect and demand more specific answers so that you don't fall into the same circumstances again.
... hope others may find this, though. And the best of luck for your next steps.