Этот перевод можно отменить.

A very literal breakdown is:

• Этот = this
• перевод = transfer / translation
• можно = it is possible / one may / can be
• отменить = to cancel

So the sentence is literally something like:

This transfer, it is possible to cancel.

In natural English, that becomes:

This transfer can be canceled
or
It is possible to cancel this transfer

Russian normally leaves out the verb to be in the present tense.

So where English says:

This transfer is cancelable
or
This transfer is possible to cancel

Russian simply says:

Этот перевод можно отменить

There is no present-tense быть here because it is usually omitted.

Можно is an impersonal word meaning:

• it is possible
• it is allowed
• one can

It does not refer to a specific person.

So:

• Этот перевод можно отменить = This transfer can be canceled
• Он может отменить этот перевод = He can cancel this transfer

Может is a personal verb form from мочь, meaning can / is able to, and it needs a subject such as он, она, банк, etc.

Отменить is the perfective infinitive, while отменять is imperfective.

Here, the perfective is natural because the sentence talks about completing a single action: canceling this one transfer.

• отменить = to cancel successfully, as a completed act
• отменять = to be canceling / to cancel in general / repeatedly

So Этот перевод можно отменить means that this specific cancellation can be carried out.

If you used отменять, it would sound more like a general process or repeated action, which is less natural in this context.

Because перевод is the direct object of отменить.

The verb отменить takes the accusative case, so the phrase is in the accusative:

• этот перевод

For a masculine inanimate noun like перевод, the accusative singular looks the same as the nominative singular.

So:

• nominative: этот перевод
• accusative: этот перевод

That is why the form does not change.

In meaning, yes, it often translates like a passive English sentence:

This transfer can be canceled

But grammatically, Russian is not using a true passive form here. It is using an impersonal construction:

• можно + infinitive

So the structure is closer to:

It is possible to cancel this transfer

Russian often prefers this kind of construction instead of a heavier passive such as:

Этот перевод может быть отменён

That version is also possible, but Этот перевод можно отменить sounds very natural and common.

Yes. Перевод is an ambiguous word in Russian. It can mean:

• translation
• transfer (especially money transfer)
• transfer in some other contexts, like moving something from one place/system to another

So without context, Этот перевод можно отменить could theoretically mean:

• This transfer can be canceled
• This translation can be canceled

In real life, context usually makes it clear. In banking or app language, it almost certainly means transfer.

Yes. Russian word order is flexible.

You could also say:

Можно отменить этот перевод

Both are correct, but the focus changes a little.

• Этот перевод можно отменить emphasizes this transfer
• Можно отменить этот перевод sounds a bit more neutral, starting with the idea of possibility

In many contexts, both would be understood the same way.

Very simply:

• Этот перевод можно отменить? = Can this transfer be canceled?
• Этот перевод нельзя отменить. = This transfer cannot be canceled.

Here, нельзя is the negative counterpart of можно:

• можно = can / may / it is possible
• нельзя = cannot / may not / it is not possible

The stress is:

• Э́тот
• перево́д
• мо́жно
• отмени́ть

So the full sentence is pronounced:

Э́тот перево́д мо́жно отмени́ть

For an English speaker, the last word is especially worth noticing: the stress is on the final syllable in отмени́ть.