RUSSIA – On March 5th, Mastercard issued a press release dubbed “Mastercard Statement on Suspension of Russian Operations,” which the actions outlined by the company in the press release will adversely impact undoubtedly a large number of people who simply happen to live in Russia.
Mastercard appears to be following in the footsteps of numerous other companies that have opted to sever ties with Russia. Still, with being tied to the finances of ordinary people in the country, the impacts will be hard to ignore for even apolitical Russians.
In the press release, Mastercard confirmed that they’ve “decided to suspend our network services in Russia,” claiming that the decision was reached due to “the unprecedented nature of the current conflict.”
Per Mastercard, “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.”
According to Investopedia, the Mastercard network is a “proprietary global payments network” that is able to “facilitate payment transactions, which usually involve the Mastercard account holder and a merchant, along with their respective financial institutions.”
The ramifications, in short, mean that all Mastercards issued in Russia – to include people’s bank cards – are bunk. And anyone with a issued Mastercard outside of Russia won’t be able to buy anything that is sold from Russia in any way, shape, or form.
Visa also did a similar move on March 5th; however, they are just halting all Russia’s international transactions.
There are those online who are rightfully concerned about what Mastercard just demonstrated they could do – in that they can turn off someone’s access to their money with a flip of a proverbial switch.
One online commenter noted, “Every citizen on Earth right now is Russian. Global Elite are showing what they can do if we do not cooperate. Metamask Wallets, OS – block Iranian, MasterCard Russian, only matter of time when they block ETH WORLDWIDE to push us to trade with their [central bank digital currency].”
Others suspect that with Mastercard pulling this stunt, they’re greasing the wheels for a stronger forged bond between Russia and China. As one commenter noted, “They are just opening the Russian market to Chinese companies and clearing the path to abolition of the dollar as a store of value.”
The announcements by both Mastercard and Visa come when numerous calls have been circulating online to boycott just about any business – to include McDonald’s – with a presence in Russia, as we here at Red Voice Media previously reported.