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Visa too: > Visa Suspends All Russia Operations https://usa.visa.com/about-visa/newsroom/press-releases.rele... MasterCard/Visa cards issued in Russia will not work abroad, cards issued abroad will not work in Russia. > MasterCard/Visa account for three-quarters of payments in Russia https://twitter.com/spectatorindex/status/150023911662537932...
Earlier quoted context omitted.
> It does feel coordinated This whole thread has been an eye opener for me, I had no idea so many people had so little idea of what 'economic sanctions' means. Yes, yes it does feel coordinated. Have you noticed it came after sanctions were announced as well??
Thanks for implying I don't know what an economic sanction is. I do not believe this is part of the economic sanctions announced by gvts. This is a private initiative.
That's basically a direction that every financial entity which does transactions with Russia must assume that they too should suspend operations, unless explicitly cleared otherwise.
Russia was declared "untouchable", unless you have explicit permission to touch it (like energy markets).
Mirror: https://archive.ph/d5RmA (was down) Key passage: “ With this action, cards issued by Russian banks will no longer be supported by the Mastercard network. And, any Mastercard issued outside of the country will not work at Russian merchants or ATMs.” I don’t believe it’s clear that cards issued in Russia are not still being accepted within Russia. Which is what I believe Visa is still doing: “ all transactions…
So individuals who recently left Russia out of fear for the regime and may be in very vulnerable positions have potentially unexpectedly lost access to their funds until they can sort that out... Meanwhile, for The Real Russians, business as usual. This looks like theatre hurting the wrong people.
I’m not pro crypto or pro Russia, but the fact that it’s so easy to lose ones freedom to transact[0] (regardless of the specific merits here) is troubling. [0] https://mobile.twitter.com/punk6529/status/14944446246304030...
I am absolutely sure that Transferwise is still available for Russians to use, so the freedom to transact isn't really lost. 'Cryptocurrencies' should not be used at all.
It's hard for me to imagine a scenario where these sanctions (not just Mastercard and Visa, but all of it as a whole) are reduced without a total regime change in Russia. This is becoming a massive divestment, and I'm not sure it's a great idea. There's no guarantee that what replaces Putin is going to be more Western and not reactionary. For every Russian that is cosmopolitan and globalist, there's a dozen Russians…
I’m not pro crypto or pro Russia, but the fact that it’s so easy to lose ones freedom to transact[0] (regardless of the specific merits here) is troubling. [0] https://mobile.twitter.com/punk6529/status/14944446246304030...
This is only possible because Russia is the first clear and acceptable Bad Guy since WW2 Germany. There are very few gray areas about what they are doing in Ukraine, so everyone is firing with everything they've got. Weapons of Mass Financial Destruction someone called them.
It's the first action against Russia that made me angry. It's so stupid and wrong at the same time. So, in Russia all the cards will work, nothing is changed here (despite the statements of Visa and Mastercard). Cards issued by Russian banks would stop work abroad. The same is true for any foreign cards in Russia. So, foreigners in Russia are fucked. People who left Russia in a hurry because they didn't want to be pa…
How one should pay for VPN or VPS, for example
Earlier quoted context omitted.
Hasn't really been a problem for other countries to avoid this problem, so I'm not sure how worried I ought to be. Like so many things, I'll worry about trends when there is a trend.
It’s hard to remember as long ago as last month when peaceful Canadian protestors had their assets seized without due process. We already live in a world where so-called first world nationals have this happen to them. It’s not about countries or individuals, it’s about power. And the rulers of the west have demonstrated the power to completely destroy someone financially by flipping a few bits as well as the willingn…
I have never had any expectation that when I am actively committing a crime, I can expect authorities to wait for the courts to decide if I should face any immediate sanctions or controls to stop my behavior.
What would you rather have happen? Rubber bullets and tear gas? Or are you actually suggesting that it is okay to hold the public hostage until you get what you want?
It's hard for me to imagine a scenario where these sanctions (not just Mastercard and Visa, but all of it as a whole) are reduced without a total regime change in Russia. This is becoming a massive divestment, and I'm not sure it's a great idea. There's no guarantee that what replaces Putin is going to be more Western and not reactionary. For every Russian that is cosmopolitan and globalist, there's a dozen Russians…
I think it's remarkable how little the markets reacted to this momentous event. Maybe it's not going to be as bad as rumored?