Connect with us

National Security

Russia switches to Chinese credit card banking system

Published

on

GettyImages 1238675143 scaled

The deadly alliance between Russia and China has moved into banking. Visa and Mastercard suspended all of their services in Russia after Ukrainian President Volodymyr Zelensky had a phone call with U.S. lawmakers. The move by the credit card companies was announced on Saturday, just days after they had blocked Russian banks from access to their networks.

In a statement, Visa announced the company will “cease all Visa transactions” in Russia. On Sunday, Reuters reported that “several Russian banks said on Sunday they would soon start issuing cards using the Chinese UnionPay card operator’s system couples with Russia’s own Mir network.”

Russia’s biggest lender, Sberbank, as well as Alfa Bank and Tinkoff made the announcements to switch to the Chinese system. Visa Chairman and Chief Executive Officer Al Kelly said in a statement: “We are compelled to act following Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed.”

Visa and Mastercard issued their statements just 16 minutes apart. “We don’t take this decision lightly” said Mastercard in a statement. According to Representative Brad Sherman (D-CA), Zelensky asked the lawmakers on a private video call to turn off Mastercard and Visa for Russia.

The Associated Press reported that “Russia accounted for 4 percent of all of Visa’s net revenue in its last fiscal year, while business conducted within, into and out of Russia similarly accounted for 4 percent of Mastercard’s net revenues in 2021.”

The Associated Press also reported that “since the invasion of Ukraine, the value of the Russian currency, the ruble, has plunged by more than a third to a record low.”

As a result, inflation is dramatically increasing “for Russian households, and all the fear has helped cause long lines at ATMs.”

You may like

Continue Reading
5 Comments

5 Comments

  1. James

    March 7, 2022 at 8:52 am

    When the west plays its last hand and weaponises the only threat it has left, you know it is in its death throws.
    When Asia pivots away from the $ as the global reserve currency, they will follow their mo and resort to war. Oh wait!

  2. Pherbia Stephens

    March 7, 2022 at 10:52 am

    I pray all Americans and Christian people will get out of Russia, then let Russia sink.

  3. Steven bennett Williams

    March 7, 2022 at 2:30 pm

    Will this affect the United States

  4. TellTheTruth-2

    March 7, 2022 at 5:00 pm

    Years ago Lyndon LaRouche explained US Dollars are held all over the world because people see them as a thing of value. He also explained, if the Dollar ever loses its place as the World’s Reserve Currency, those TRILLIONS of Dollars held overseas would return to the USA so fast you will hear the whooosh and the USA would go into an immediate deflationary depression.

    That’s why the neoCONs are pushing for a war with Russia. The fake joo bastards want to destroy the USA and when they do, they’ll all flee to Israel when they think they’ll rule the world from

  5. Gerry d'Aquino

    March 9, 2022 at 3:27 am

    So now credit cards have become weaponized as a political tool. All I see is cancel culture taking the west by force. You will reap what you sow, eventually.

Leave a Reply

Your email address will not be published.

International

VIDEO: Russia Moving Missiles Towards Finland Border

Published

on

Screen Shot 2022 05 16 at 11.47.56 AM

Putin has said in recent years that Finland is considered friendly so long as they do not join NATO. Finland’s President Sauli Niinistö confirmed Sunday he has applied for NATO membership.

MetroUK tweeted chilling video and reported the following:

Russia has started moving nuclear-capable missiles towards its border with Finland hours after Moscow vowed not to tolerate Helsinki’s plans to join Nato.

The Kremlin issued a chilling warning that plans for both Finland and Sweden to sign up to the Atlantic alliance were a ‘grave mistake with far reaching consequences’.

Russian deputy foreign minister, Sergei Ryabkov, said: ‘They should have no illusions that we will simply put up with it,’ and insisted ‘the general level of military tension will rise’.

The video was reportedly taken on a road leading to Vyborg, around 24 miles from the Finnish border, showing the deployment of mobile Iskander missiles.

“Seven launchers are thought to be en route according to commentary on a dash cam video broadcast by Russian media.”

A person on the video can be heard saying: ‘As soon as the president of Finland said they were joining Nato, a whole division of Iskanders, seven of them is moving towards Vyborg.

‘Looks like a new military unit is about to be formed in Vyborg or the region.’

You may like

Continue Reading
Advertisement

Trending Now

Advertisement

Trending

Proudly Made In America | © 2022 M3 Media Management, LLC