Visa, Mastercard Block Russian Banks From Network - Foreign Affairs

Visa, Mastercard Block Russian Banks From Network - Foreign Affairs - Nairaland

Nairaland Forum › Nairaland General › Politics › Foreign Affairs › Visa, Mastercard Block Russian Banks From Network (22671 Views)

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Visa, Mastercard Block Russian Banks From Network by chameleon98(op): 6:32am On Mar 02, 2022

Visa and Mastercard have cut Russian financial institutions off from their payments networks to comply with the sanctions imposed by governments on Russia for its invasion of Ukraine.

"Our Cyber & Intelligence and Corporate Security teams are working with governments and partners around the world to ensure the stability, integrity and resiliency of our systems, which are operating as normal," Mastercard CEO Michael Miebach said in a statement on the company's website.

The move was sought by Ukraine National Bank Governor Kyrylo Shevchenko to increase pressure on Russian President Vladimir Putin and his regime, according to Nikkei Asia.

According to Reuters, "Russians rushed to ATMs and waited in long queues on Sunday and Monday amid concerns that bank cards may cease to function, or that banks would limit cash withdrawals.”

Miebach said among the most important roles that it plays is ensuring that its network and the global payments ecosystem remains secure against cyberattacks.

"Visa is taking prompt action to ensure compliance with applicable sanctions, and is prepared to comply with additional sanctions that may be implemented," that company said in a statement posted to its website.

The card giants each pledged to donate $2 million for humanitarian assistance to help Ukrainians displaced by the war, the ranks of which the United Nations expects to swell to as many as 5 million, Time reported.

A coalition of some of the world's richest nations joined together on the weekend to impose their first Swift sanctions against Russia over its invasion of Ukraine, taking a narrowly-tailored approach to cutting offselect Russian banks from the international financial messaging system.

https://www.paymentsdive.com/news/visa-mastercard-block-russian-banks-from-network/619605/

22 Likes 2 Shares

Re: Visa, Mastercard Block Russian Banks From Network by fatatoulli: 6:33am On Mar 02, 2022

This one strong, so their citizens will be struggling to use ATM card like this? Even if it's their government and not them that went to war in Ukraine? embarassed

57 Likes 4 Shares

Re: Visa, Mastercard Block Russian Banks From Network by Lawlab251: 6:41am On Mar 02, 2022

Re: Visa, Mastercard Block Russian Banks From Network by Ecos(m): 7:35am On Mar 02, 2022

Wahala

Re: Visa, Mastercard Block Russian Banks From Network by udemzyudex(m): 7:37am On Mar 02, 2022

fatatoulli:
This one strong, so their citizens will be struggling to use ATM card like this? Even if it's their government and not them that went to war in Ukraine?

Make their generals plan a coup.

124 Likes 11 Shares

Re: Visa, Mastercard Block Russian Banks From Network by Mtncardseller(m): 7:47am On Mar 02, 2022

Re: Visa, Mastercard Block Russian Banks From Network by Cizarr(m): 10:07am On Mar 02, 2022

This one no too good for their citizens

11 Likes 1 Share

Re: Visa, Mastercard Block Russian Banks From Network by HigherEd: 10:10am On Mar 02, 2022

Putin has turned Russia into a pariah state. His only hope is to takeover kyiv as quickly as possible. If he doesn't within a month. Russia's economy would be highly damaged.

146 Likes 11 Shares

Re: Visa, Mastercard Block Russian Banks From Network by sapientia(m): 10:44am On Mar 02, 2022

He wins, it gets worst

He don't have the army to keep more than 40 million people in check

China is not mediating just distancing themselves

It's just a needless costly war for Putin

He should have left when the ovation was high

HigherEd:
Putin has turned Russia into a pariah state. His only hope is to takeover kyiv as quickly as possible. If he doesn't within a month. Russia's economy would be highly damaged.

Lalasticlala

103 Likes 4 Shares

Re: Visa, Mastercard Block Russian Banks From Network by MyVILLAGEpeople(m): 10:51am On Mar 02, 2022

Putin is fighting a just cause. The dark western powers are just against him.

50 Likes 3 Shares

Re: Visa, Mastercard Block Russian Banks From Network by PrinceOfLagos: 12:34pm On Mar 02, 2022

I feel for the Russian people walahi

10 Likes 1 Share

Re: Visa, Mastercard Block Russian Banks From Network by Nobody: 12:36pm On Mar 02, 2022

PrinceOfLagos:
I feel for the Russian people walahi

Your countrymen needs the pity more.

146 Likes 5 Shares

Re: Visa, Mastercard Block Russian Banks From Network by MERCHANDISER: 12:44pm On Mar 02, 2022

This Ukrainian president is very good in comedy.I don't really know why he joined politics.

Imagine Mr Biggs contesting for US president

4 Likes 2 Shares

Re: Visa, Mastercard Block Russian Banks From Network by seunlayi(m): 1:34pm On Mar 02, 2022

Lobatan, oxygen is next

30 Likes 1 Share

Re: Visa, Mastercard Block Russian Banks From Network by KingEverest: 1:34pm On Mar 02, 2022

the backlash is epic at the end it's innocent Russians that would suffer most, so the question now is can they put enough pressure on their government?

7 Likes

Re: Visa, Mastercard Block Russian Banks From Network by Lagosianswag: 1:34pm On Mar 02, 2022

Whoa!

This one will come as a rude shock to Russian G-Boys tongue

5 Likes

Re: Visa, Mastercard Block Russian Banks From Network by seunny4lif(m): 1:35pm On Mar 02, 2022

Don’t Russia have MIR card another version of VISA and Master CARD because they have been using it in Crimea.

MIR is used in over 14 countries already and now, it will increase as many countries will add MIR card to their list

25 Likes 1 Share

Re: Visa, Mastercard Block Russian Banks From Network by seunlayi(m): 1:35pm On Mar 02, 2022

This long war is not for Putin to win, if he win the battle he can't win the war

30 Likes

Re: Visa, Mastercard Block Russian Banks From Network by ednut1(m): 1:36pm On Mar 02, 2022

When will europe stop accepting Russian gas and America stop buying Russian oil huh

Clowns

140 Likes 3 Shares

Re: Visa, Mastercard Block Russian Banks From Network by sotall(m): 1:36pm On Mar 02, 2022

Where are the Russian Cyberdogs?

Come and explain to us how Putin is immuned to these economic sanctions

41 Likes 3 Shares

Re: Visa, Mastercard Block Russian Banks From Network by hesir64071: 1:36pm On Mar 02, 2022

Don’t Russia have MIR like they have been using it in Crimea.

2 Likes 1 Share

Re: Visa, Mastercard Block Russian Banks From Network by Nobody: 1:36pm On Mar 02, 2022

Lol

Walahi...dem don wound Russia finally. grin

13 Likes 1 Share

Re: Visa, Mastercard Block Russian Banks From Network by IhateYouMan: 1:36pm On Mar 02, 2022

ednut1:
When will europe stop accepting Russian gas and America stop buying Russian oil Clowns

Very very soon - watch this space.

5 Likes

Re: Visa, Mastercard Block Russian Banks From Network by samonak(m): 1:37pm On Mar 02, 2022

Omo e don cast for Russia oh!

9 Likes

Re: Visa, Mastercard Block Russian Banks From Network by WibusJaga: 1:37pm On Mar 02, 2022

This Putin should know he is a mere mortal &not Superman. He'd better humble himself &learn from history.

10 Likes

Re: Visa, Mastercard Block Russian Banks From Network by RichDad1(m): 1:37pm On Mar 02, 2022

At this rate, Russia might get isolated from the world.

14 Likes

Re: Visa, Mastercard Block Russian Banks From Network by PencilBox: 1:37pm On Mar 02, 2022

I'm not a lover of war. But, where was the world when Israel was bombing Gaza and other nations?

When America was crippling Iran, where was the world?

So Russia is the first?

22 Likes 2 Shares

Re: Visa, Mastercard Block Russian Banks From Network by seunny4lif(m): 1:38pm On Mar 02, 2022

ednut1:
When will europe stop accepting Russian gas and America stop buying Russian oil Clowns

You want kill them
Even Hungary president said his country will go ahead with the new gas contract because it’s long term, as Hungary will not need to worry about high cost of gas
Pakistan president said same because the price of oil is going crazy now and only those who have long term contract can enjoy it.

Re: Visa, Mastercard Block Russian Banks From Network by LesbianBoy(m): 1:38pm On Mar 02, 2022

Foolish decision

Omo, people wey E no concern sef go suffer for all these bans o angry

1 Like

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