Several Russian banks said on Sunday they would soon start issuing cards using the Chinese UnionPay card operator’s system.

The new issues will be coupled with Russia’s own Mir network.

The move comes after Visa and MasterCard said they were suspending operations in Russia.

Announcements regarding the switch to UnionPay came on Sunday from Sberbank, Russia’s biggest lender, as well as Alfa Bank and Tinkoff.

Visa and Mastercard are American payment platforms.


Both announced Saturday they were suspending their services in Russia following Russia’s invasion of Ukraine.

Source:

https://www.google.com/url?sa=t&source=web&rct=j&url=https://pmnewsnigeria.com/2022/03/06/russian-banks-switch-to-chinas-unionpay-after-visa-mastercard-snub/%3Famp%3D1&ved=2ahUKEwjui_H3urH2AhUDhv0HHbf3BX0Q0PADKAB6BAgGEAE&usg=AOvVaw0_NhruRhKdmk2qZ_GY3R9_

seunny4lif:
By the this war is over and Russia survive all this sanctions then many countries will port to Russia and China just like many Arabs nations run to Russia after they saw what Russia did in Syria.

It will show the world is now Multipolar just like Putin said in 2007 at Munich security council meeting while Bush and NATO members were laughing.

Russia already have her own version of Visa card and it’s working around in 15 countries and many countries already planned to accept it.

By the time the war is over?

Sir, by the time the war is over, Russian ecomony would be more devastated and damaged than the devastation and damages Russia has caused in Ukraine itself.

Infact, by the time the war is over (which is not ending anytime soon) it will be easier to rebuild Ukraine than to rebuild Russian ecomony.
This is not some economics textbook tactics.
It takes more than mere friendship of two nations or provision of alternative to dislodge the power of the west.
We all said the same thing when Russia and China had a currency deal and the last time I checked, many countries still finance their trade with dollars.

Putin is not crazy but mad....

As long as the Chinese and other allies are behind Russia, these sanctions would end up harming and eroding the influence of the USA. The future belongs to China.

seunny4lif:
By the this war is over and Russia survive all this sanctions then many countries will port to Russia and China just like many Arabs nations run to Russia after they saw what Russia did in Syria.

It will show the world is now Multipolar just like Putin said in 2007 at Munich security council meeting while Bush and NATO members were laughing.

Russia already have her own version of Visa card and it’s working around in 15 countries and many countries already planned to accept it.

Currently, Russians are suffering from the many sanctions placed on them.


China can't do anything without the West.... If Russia decides to rely on china for sustainability of their funds, they are likely to fail as China operates directly with the US.

Patriot9:

By the time the war is over?

Sir, by the time the war is over, Russian ecomony would be more devastated and damaged than the devastation and damages Russia has caused in Ukraine itself.

Infact, by the time the war is over (which is not ending anytime soon) it will be easier to rebuild Ukraine than to rebuild Russian ecomony.
This is not some economics textbook tactics.
It takes more than mere friendship of two nations or provision of alternative to dislodge the power of the west.
We all said the same thing when Russia and China had a currency deal and the last time I checked, many countries still finance their trade with dollars.

With the war on and despite all the sanctions, America is still spending over millions of dollars daily buying oil from Russia. Europe is still spending billions of euros daily buying oil and gas from Russia despite all the sanctions. That's outside the trade Russia has elsewhere. 5% of Russian oil exports goes to the US and 60% goes to Europe with 20% going to China. 40% of Russian gas goes to Europe... Despite all the sanctions, the leaders of the US and all European countries have rejected the demand that oil and gas imports from Russia be stopped cos of the way it would affect both the US and the whole of Europe. You guys need to read properly and understand what is at stake. Russia is not Nigeria. Those who are placing sanctions on them but left the oil and gas deals in tact, aren't stupid.

chronique:


With the war on and despite all the sanctions, America is still spending over millions of dollars daily buying oil from Russia. Europe is still spending billions of euros daily buying oil and gas from Russia despite all the sanctions. That's outside the trade Russia has elsewhere. 5% of Russian oil exports goes to the US and 60% goes to Europe with 20% going to China. 40% of Russian gas goes to Europe... Despite all the sanctions, the leaders of the US and all European countries have rejected the demand that oil and gas imports from Russia be stopped cos of the way it would affect both the US and the whole of Europe. You guys need to read properly and understand what is at stake. Russia is not Nigeria. Those who are placing sanctions on them but left the oil and gas deals in tact, aren't stupid.

Yes sir. I agree with all what you said.
Europe is the biggest market of Russian oil and gas. However, this is the main reason why Russia needs to thread with caution because most of her oil buyers are the ones imposing sanctions on her.
This is not a supremacy Battle between Russia and the whole of Europe. It's "many"against "one"

Now let's go to the Asian market. Here, China is the only serious buyer in Asia. In fact, china needs Russian oil and gas more than anything else. But the problem here is, Chinese market can't replace the whole of Europe and Russia won't be stupid to ignore Europe with high level of "capital intensive industrialization".
Don't you see the trend? Russian ecomony is falling like a pack of card.
Please answer this question.
1. Why hasn't Russia cut off the total supply to the whole of Europe and America?
2. Why was Germany in a hurry to halt part of Nord project?
3. If you were Putin, would you cut of the supply and starve Europe?

Finally, I guess there is a reason why "demands" always come ahead of "supply".

Union pay

What the hell is that

No, na union play card.him go hear am for body.

chronique:


With the war on and despite all the sanctions, America is still spending over millions of dollars daily buying oil from Russia. Europe is still spending billions of euros daily buying oil and gas from Russia despite all the sanctions. That's outside the trade Russia has elsewhere. 5% of Russian oil exports goes to the US and 60% goes to Europe with 20% going to China. 40% of Russian gas goes to Europe... Despite all the sanctions, the leaders of the US and all European countries have rejected the demand that oil and gas imports from Russia be stopped cos of the way it would affect both the US and the whole of Europe. You guys need to read properly and understand what is at stake. Russia is not Nigeria. Those who are placing sanctions on them but left the oil and gas deals in tact, aren't stupid.

Yup, UK still looking to buy another 2nd worth in a few days lol it’s the hypocrisy for me.

chopnaira:
Union pay

What the hell is that

Life exist outside of wherever you are sir…
UnionPay is pretty popular around the world, even in the US, Canada, Mexico and UK. Even in Nigeria, many card processors and Nigerian banks are on the network accept Alipay and UnionPay

Patriot9:

By the time the war is over?

Sir, by the time the war is over, Russian ecomony would be more devastated and damaged than the devastation and damages Russia has caused in Ukraine itself.

Infact, by the time the war is over (which is not ending anytime soon) it will be easier to rebuild Ukraine than to rebuild Russian ecomony.
This is not some economics textbook tactics.
It takes more than mere friendship of two nations or provision of alternative to dislodge the power of the west.
We all said the same thing when Russia and China had a currency deal and the last time I checked, many countries still finance their trade with dollars.

To Russians and Particularly Putin, they believe that such devastation will never ever be compared to if the continue to keep their cool and wait until everything is taken away from them by a foreseen systemic war by U.S.A and her Allies.

It's a case of eating one's sh!t when it is fresh than when it becomes dry and emmiting worms.

Infact this war will only change the course of Russians from what the are used to, opening doors to other alternatives.

Patriot9:

By the time the war is over?

Sir, by the time the war is over, Russian ecomony would be more devastated and damaged than the devastation and damages Russia has caused in Ukraine itself.

Infact, by the time the war is over (which is not ending anytime soon) it will be easier to rebuild Ukraine than to rebuild Russian ecomony.
This is not some economics textbook tactics.
It takes more than mere friendship of two nations or provision of alternative to dislodge the power of the west.
We all said the same thing when Russia and China had a currency deal and the last time I checked, many countries still finance their trade with dollars.

Ask him the values of Rupees or if he can recognise it if he come across it.

Patriot9:


Yes sir. I agree with all what you said.
Europe is the biggest market of Russian oil and gas. However, this is the main reason why Russia needs to thread with caution because most of her oil buyers are the ones imposing sanctions on her.
This is not a supremacy Battle between Russia and the whole of Europe. It's "many"against "one"

Now let's go to the Asian market. Here, China is the only serious buyer in Asia. In fact, china needs Russian oil and gas more than anything else. But the problem here is, Chinese market can't replace the whole of Europe and Russia won't be stupid to ignore Europe with high level of "capital intensive industrialization".
Don't you see the trend? Russian ecomony is falling like a pack of card.
Please answer this question.
1. Why hasn't Russia cut off the total supply to the whole of Europe and America?
2. Why was Germany in a hurry to halt part of Nord project?
3. If you were Putin, would you cut of the supply and starve Europe?

Finally, I guess there is a reason why "demands" always come ahead of "supply".

I have reiterated on this forum here that Europe, US and Russia all need themselves. They can't survive economically without each other. I for one feel the west is just trying to put pressure on Russia with these sanctions and it could backfire. Now, check this out.

America can't do away with Russian oil. If they do, gas price in the US would soar higher and before you know it, protest would start. The government won't want to put that kind of pressure on themselves and as such, would not do away with the supply from Russia. But guess what? They are the ones screaming about sanctions most.

Germany halted the nordstream 2 but desperately needs cheap gas from Russia that they can't get elsewhere. They know what it means to be cut off from that supply. Not just them but most of Europe.

Russia and Ukraine supply the largest percentage of wheat globally. The crisis there is already making the price of wheat in the market go high...

Russia on her part with the sanctions, is already seeing her currency rumble so fast. What it means is that they would earn less money than they have been earning with same level of supply. But guess what, they based their budget on $40 per barrel and as such, would still have just enough to keep them afloat. They are not going to just capitulate overnight. Even the US issuing the sanctions isn't immune from the whole thing. Imagine Russia and China doing a lot of trade with the yuan/rubble, the demand for the dollar(which by the way is what is keeping the US economy), drops. If other countries key into it and start trading more with the yuan and the demand for the dollar drops, the US will find herself in a very bad position eventually. Like I said, they all are going to be affected one way or the other. There's not one of them who would not be affected.

Do you mean China whose foreign reserve is in Dollars?

Any other country with time can replace what China delivers which is goods

But how can you replace the volume of goods USA buys

Check volume of trade by countries to China before you start hyping

abouzaid:
As long as the Chinese and other allies are behind Russia, these sanctions would end up harming and eroding the influence of the USA. The future belongs to China.

.

sunboy:

Life exist outside of wherever you are sir…
UnionPay is pretty popular around the world, even in the US, Canada, Mexico and UK. Even in Nigeria, many card processors and Nigerian banks are on the network accept Alipay and UnionPay

Visa, MasterCard and American Express are known world wide and the first two account for over 90% of debit and credit transactions world wide outside China.

More digging.
0.5% outside China.

chopnaira:
More digging.
0.5% outside China.

They will soon gain popularity

chopnaira:
Union pay

What the hell is that

Do more research before coming here

It’s over
3 goals for Man City

chopnaira:


Visa, MasterCard and American Express are known world wide and the first two account for over 90% of debit and credit transactions world wide outside China.

Edit: You prompted me to go look up the market share of payment processors and right now UnionPay is the market leader. Currently controls 45% of the world’s card spendings, followed by Visa 27% and Master 19%. That’s a 2020 report I just read. It’s free information go read. T for thanks

sapientia:
Do you mean China whose foreign reserve is in Dollars?

Any other country with time can replace what China delivers which is goods

But how can you replace the volume of goods USA buys

Check volume of trade by countries to China before you start hyping


.

the Chinese economy stands already at 18 trillion against USA's 23 trillion. It's predicted to overtake the US economy in this decade.

abouzaid:
As long as the Chinese and other allies are behind Russia, these sanctions would end up harming and eroding the influence of the USA. The future belongs to China.

Move this trash to the joke section.

sunboy:


Yup, UK still looking to buy another 2nd worth in a few days lol it’s the hypocrisy for me.

Russia should stop the sale if they have the mind

feedthenation:
---Still waiting for the Moscow Stock Exchange to open---for 5 days now---

As if you have ever participated in one..

abouzaid:
the Chinese economy stands already at 18 trillion against USA's 23 trillion. It's predicted to overtake the US economy in this decade.

Yes, of course, USA will go to sleep

When Chinese foreign reserve is in dollars

Are you even aware that China devalued their currency some years back against dollars so they can make more sales with few dollars

Another country will take over USA only if by some miracle, whole of USA sinks into the sea

udemzyudex:


Move this trash to the joke section.

Joke section will take it as an offence

Seun should have "archived trash" in NL

TikTok suspends live streaming, new content in Russia

TikTok, owned by the Chinese technology company ByteDance, announced on Sunday that it is immediately suspending live streaming and new content on its platform in Russia.

The video-focused social networking service said the move was in response to Russia's parliament passing a law governing what it called "fake news.

udemzyudex:


Russia should stop the sale if they have the mind

Everybody need each other. Uk and Eu don’t also have the mind to stop buying. They are sanctioning them in the news but still throwing money at them by continuing to buy their oil.

sapientia:


Yes, of course, USA will go to sleep

When Chinese foreign reserve is in dollars

Are you even aware that China devalued their currency some years back against dollars so they can make more sales with few dollars

Another country will take over USA only if by some miracle, whole of USA sinks into the sea

are you aware that the Chinese holds so much US debt that they can crash the value of the dollar by dumping those debt instruments?