The world agenda has been very busy lately. Because Russia’s attack on Ukraine as an operation decision changed all the balances. Even though Russia says that our aim is not an invasion, all the developments to date show the opposite of this situation.
Russia, which has become the focus of criticism with this decision, has started to struggle with sanctions one after another. Finally, the country, which took action with the announcement that Mastercard and Visa suspended their services in the country, is preparing to cooperate with China as a counter move.
Another embargo: Russia’s banking system is collapsing!
According to the statement made by Visa and Mastercard, both banking systems will stop working in Russia.
Russia to respond to Mastercard and Visa sanctions with China
While the 11th day of Russia’s attempt to invade Ukraine has passed, the expected results from the negotiations between the two countries have not come out so far. Sanction decisions continue to come one after another due to the fact that Russia does not return from its wrong decision.
As it will be remembered, shortly after Russia’s attack on Ukraine, its removal from the SWIFT system, which was a protocol that accelerated international transfer transactions that was implemented in 1973, came to the agenda. A similar move to this issue, which is expected to become official in the coming days, came from the world-famous US-based financial companies Mastercard and Visa.
MasterCard and Visaannounced that it has blocked Russian financial institutions from the payment network and suspended their services in the country, within the scope of the sanctions imposed on Russia by the USA. On the other hand, the two companies announced that they will cooperate with regulatory agencies in this process and will adapt to new decisions that may come in the future.
Russia, which took action after the sanctions decision of the two companies, talks with China started. In this context, the Russian payment system Mir with Chinese financial company UnionPay in total in partnership 180 countriesWork has begun to produce cards that can work in At this point, it should be noted that some Russian banks are already in partnership with UnionPay, and banks such as Sberbank and Tinkoff have given the green light to the said partnership.
So what do you think about this subject? Do you think Russia can decide to withdraw from Ukraine after the sanctions? Give your feedback in the comments section or SDN ForumDon’t forget to share it with us.