VISA & MASTERCARD blocked Russians from accessing their money

[niothor]

New law will apply since June 1st, so all issues should be resolved before this date. Article says that representatives of visa & mc are currently negotoating with Central Bank of Russia in order to find suitable value for insurance deposit.

And it's June the 4th and in the end , nothing happened.
Seems like visa was to much to handle .

[Nemo1024]

They came to an agreement:
http://online.wsj.com/news/articles/SB10001424052702303749904579579422487971570

[niothor]

They came to an agreement:
http://online.wsj.com/news/articles/SB10001424052702303749904579579422487971570

Not really if i read the last two paragraphs:

Mr Siluanov said Visa and MasterCard currently "have problems" with the insurance deposit demanded by the law, but that both sides would seek a solution. Earlier this week, Mr. Siluanov said that Russian cardholders should be ensured against possible service disruptions.

A finance ministry official who asked not to be named said Thursday that Russia hopes to reach an agreement with Visa and MasterCard that will result in creation of a payment system akin to existing systems in France and Turkey. In these two countries global card providers work together with their local peers, processing transactions together.

They won't get any money and any deposit from visa.
Those guys know they can cripple the Russian commerce and they will not pay a cent more.

[Balthazar]

Seems like a game.

[Nemo1024]

Those guys know they can cripple the Russian commerce and they will not pay a cent more.

I wouldn't put it as dramatically. Visa and Master Card are only really important when trading with abroad by tourists or Internet commerce. I don't know what the numbers are, but I can't imagine that being a large segment.

[niothor]

Those guys know they can cripple the Russian commerce and they will not pay a cent more.

I wouldn't put it as dramatically. Visa and Master Card are only really important when trading with abroad by tourists or Internet commerce. I don't know what the numbers are, but I can't imagine that being a large segment.

Visa and MC have almost 90% of all card transactions in Russia.

According to the Russian central bank, the volume of card transactions in Russia reached 7.3 trillion rubles ($204 billion) in the 4th quarter of 2013. If the two U.S. companies processed 90 percent of that volume, about $2 billion per day,

Well , it does seems like a lot to me.


Also :

"We have 100 million cards there (in Russia) and it is not in anyone's best interest, inclusive of the Russians, to make those cards not available to their own citizens," Pollitt said.

This was visa alone.

[Nemo1024]

Right. Russia needs a domestic payment card system. Badly.

As for the number of cards issued. I have thee Visa cards only because the banks force me to have them to be eligible for other services. I use only one of those when I am abroad. Inside Norway, the transactions go through the Scandinavian Bank Axept payment card system, so in my daily life Visa is not used, except for an occasional internet purchase.

I wish Russia the same.

[Ron~Popeil]

You don't use financial services as a weapon of war. This is immoral. The Russian people are not responsible for the bad actions of their government.

[Balthazar]

the bad actions of their government.

Who determines where "bad", and where the "good"? Or by word "bad" you mean something what Obama doesn't like?

[bryant.coleman]

The Russian people are not responsible for the bad actions of their government.

bad actions of their government? Did the Russian government invaded half the world nations for their oil and gas resources, like what the Americans did? Did they gave weapons and money to Al Qaeda, just like what the Americans did in Syria?

[Nik1ab]

the bad actions of their government.

Who determines where "bad", and where the "good"? Or by word "bad" you mean something what Obama doesn't like?

american propaganda tells them that everything that Obama doesn't like is bad. It would be funny if it wasn't so serious.

[niothor]

You don't use financial services as a weapon of war. This is immoral. The Russian people are not responsible for the bad actions of their government.

No , it's far better to use live ammunition. That wouldn't be immoral.
It'a a war game and it's being fought not with guns but with $.

And unfortunately , yes , the people are always responsible for the action of their government , because... it's THEIRS.
You don't support the government , replace it or bring it down it. You don't like it and you can't overthrow it or replace it, move to another country.

[niothor]

The Russian people are not responsible for the bad actions of their government.

bad actions of their government? Did the Russian government invaded half the world nations for their oil and gas resources, like what the Americans did? Did they gave weapons and money to Al Qaeda, just like what the Americans did in Syria?

At least the Americans after the invasions withdraw from those countries... the Russians are still there after 60 years

[Balthazar]

The Russian people are not responsible for the bad actions of their government.

bad actions of their government? Did the Russian government invaded half the world nations for their oil and gas resources, like what the Americans did? Did they gave weapons and money to Al Qaeda, just like what the Americans did in Syria?

At least the Americans after the invasions withdraw from those countries... the Russians are still there after 60 years

Well, German people are even not allowed to have a real constitution, for example. Basic Law was approved at 8 May 1949 by puppets of occupation administration, and it still in power. Taking into account all these signs, Germany is under occupation right now... 2014 - 1949 = 65  

[bryant.coleman]

At least the Americans after the invasions withdraw from those countries... the Russians are still there after 60 years

Russians still there after 60 years? Which countries are you talking about? As far as I know no Russian soldier is stationed outside Russia. On the other hand, the US is having a military presence in more than 100 countries.

[Ron~Popeil]

the bad actions of their government.

Who determines where "bad", and where the "good"? Or by word "bad" you mean something what Obama doesn't like?

International aggression is bad. Seizing territory from another nation is bad. I don't care what Obama thinks at all. I didn't care what George W Bush thought either. I didn't vote for either and disagree with pretty much everything either one of them said or did in office.

[Ron~Popeil]

the bad actions of their government.

Who determines where "bad", and where the "good"? Or by word "bad" you mean something what Obama doesn't like?

american propaganda tells them that everything that Obama doesn't like is bad. It would be funny if it wasn't so serious.

Well please educate my weak American mind. Save me from my governments propaganda for I am unable to think for my self. Better yet stop being an elitist prick.

Free trade makes war less likely. Restricting that trade based on political bickering makes war more likely. 

 

[bryant.coleman]

International aggression is bad. Seizing territory from another nation is bad. I don't care what Obama thinks at all. I didn't care what George W Bush thought either. I didn't vote for either and disagree with pretty much everything either one of them said or did in office.

Then you should be protesting against your own country who are the no.1 aggressor. Will give you a list, here:

1949 Greece
1952 Cuba
1953 Iran
1953 British Guyana
1954 Guatemala
1955 South Vietnam
1957 Haiti
1958 Laos
1960 South Korea
1960 Laos
1960 Ecuador.
1963 Dominican Republic
1963 South Vietnam
1963 Honduras
1963 Guatemala
1963 Ecuador.
1964 Brazil
1964 Bolivia
1965 Zaire.
1966 Ghana
1967 Greece
1970 Cambodia
1970 Bolivia
1972 El Salvador
1973 Chile
1979 South Korea (Pro-USA government wanted)
1980 Liberia
1982 Chad
1983 Grenada
1987 Fiji
1989 Panama
2001 Afghanistan
2002 Venezuela
2003 Iraq
2004 Haiti
2009 Honduras
2011 Libya
2011 Tunisia
2013 Egypt
2014 Ukraine

[niothor]

At least the Americans after the invasions withdraw from those countries... the Russians are still there after 60 years

Russians still there after 60 years? Which countries are you talking about? As far as I know no Russian soldier is stationed outside Russia. On the other hand, the US is having a military presence in more than 100 countries.

The post peaceful country in the world , Russia:

http://commons.wikimedia.org/w/index.php?search=Historical+map+of+Russia&title=Special%3ASearch&go=Go&uselang=ro

At lest the Americans bought some of the lands like the former colony of Louisiana and Alaska but...

[Nemo1024]

At least the Americans after the invasions withdraw from those countries... the Russians are still there after 60 years

Russians still there after 60 years? Which countries are you talking about? As far as I know no Russian soldier is stationed outside Russia. On the other hand, the US is having a military presence in more than 100 countries.

The post peaceful country in the world , Russia:

http://commons.wikimedia.org/w/index.php?search=Historical+map+of+Russia&title=Special%3ASearch&go=Go&uselang=ro

At lest the Americans bought some of the lands like the former colony of Louisiana and Alaska but...

Seems to be pretty stable, save for those times, when Russia was invaded.