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MasterCard suspends all services in Russia

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Re: MasterCard suspends all services in Russia

#181

Post by laurent92 »

cm2187 wrote: post #129
samwillis wrote: post #5

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…

But imagine the disruption for ordinary citizens. Like you won't be able to renew your domain names, or pay for office 365/gsuite/aws/azure. Companies who didn't migrate to the cloud won't look so stupid. Stephen Kotkin warned in a recent interview that the russians have their own way they can wreck havoc in our economies, like cutting undersea cables. And I also wonder if at one point the loss of revenues from cutti…

Note that cutting the gas aligns with what the West citizen broadly want: Being forced faster than later to get rid of fossil energy. EU leaders certainly didn’t aim to secure the gas supply, they put all their might into sanctioning Russia “even if it costs the gas supply”.

At this point I’m wondering whether Russia knows it and wants to impose any sanction except cutting the gas.

Re: MasterCard suspends all services in Russia

#182

Post by colesantiago »

3np wrote: post #151
colesantiago wrote: post #107

Earlier quoted context omitted.

This is still not a usecase for 'cryptocurrencies' at all. In fact the big crypto exchanges have now blocked Russian users.

There are ways to exchange fiat for cryptocurrency without going through a regulated business. Bisq, localcryptos, coordinating over chat and meeting up IRL.

Good luck finding someone to trade crypto tokens with without burning up the planet as with all these tokens do.

By the time you found someone and agreed, the price would have dropped 30%.

You might as well use the existing system.

Re: MasterCard suspends all services in Russia

#183

Post by disiplus »

azth wrote: post #163
Symbiote wrote: post #132

Earlier quoted context omitted.

My colleague's brother in Ukraine has had his day to day life interrupted by Russians dropping bombs on the city.

What does this have to do with the post you replied to? Two wrongs don't make a right.

no, but it puts it into perspective.

Re: MasterCard suspends all services in Russia

#184

Post by addandsubtract »

empressplay wrote: post #137
323 wrote: post #2

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...

Putin smiles every time another foreign entity pulls out of Russia. So I can’t imagine he’s unhappy about this…

A pyrrhic victory to celebrate on a sinking ship.

Re: MasterCard suspends all services in Russia

#185

Post by 331c8c71 »

chrsw wrote: post #173
331c8c71 wrote: post #153

Earlier quoted context omitted.

because he's not expanding russia. hes not letting ukraine to join nato. Check john mearsheimer for an understanding how putin thinks

Why is it Putin's business what Ukraine thinks of NATO?

Because Ukraine is neighboring Russia and is of strategic importance in its security considerations.

Once ukraine is in nato russia has no leverage over what kind of arms are deployed there for instance.

Did you hear about the Carribean crisis?

Re: MasterCard suspends all services in Russia

#186

Post by ceejayoz »

cm2187 wrote: post #90
mvc wrote: post #78

Earlier quoted context omitted.

If you wanna play at autocracy, don't hold foreign reserves in countries that value democracy. Simples

As simple as the economic impact when China reaches this conclusion.

The Chinese aren't dumb enough to pretend their economy wouldn't collapse if they got the sort of embargo Russia's seeing. Their #1, #2, #3, #5, #6, and #7 top trading partners are all US or US allies.

Re: MasterCard suspends all services in Russia

#187

Post by selimthegrim »

cm2187 wrote: post #39
rootusrootus wrote: post #24

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 has been a problem. There is pretty much a duopoly, look at the difficulties you face if they disapprove your business or politics. More competition is long overdue. But we are testing modern finance by weaponising the financial system. The most problematic move I think has been freezing the central bank's reserve. It might achieve the short term gain of hurting Russia, but what about the long term impact on the t…

Russia saw what happened to the Taliban and shrugged, they didn't realize the bell would toll for them too so soon

Re: MasterCard suspends all services in Russia

#188

Post by selimthegrim »

klyrs wrote: post #116
theshrike79 wrote: post #61

Earlier quoted context omitted.

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.

This isn't remotely the first since WW2. There were near universal sanctions of South Africa in the 60s due to the apartheid there, for example.

Are you sure you don't mean the 80s?

Re: MasterCard suspends all services in Russia

#189

Post by JSavageOne »

lostwords wrote: post #99

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…

Although I strongly despise Russia's (Putin's) war and agree that they need to be punished, I feel sorry for the non-oligarch Russians abroad in foreign countries who will suddenly be unable to pay with their Russian cards, as well as foreigners in Russia who can no longer use their credit cards.

Ultimately the legitimacy of these sanctions come down to how effective they will be in influencing a favorable outcome - ie. pressuring Putin to end the war. Unfortunately Russia is not a democracy - it's a country where you get arrested for protesting, and practically a dictatorship where Putin has been running the country for the last 20+ years. Thus I'm not sure how effective these blanket sanctions will be in changing things, and Putin has so far showed no signs of backing down. But I sure hope I'm wrong. This invasion is completely unjustified, and Putin must be stopped (without escalating to WWIII).

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