{"id":1360278,"date":"2022-03-05T15:08:07","date_gmt":"2022-03-05T20:08:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1360278"},"modified":"2022-03-05T20:28:19","modified_gmt":"2022-03-06T01:28:19","slug":"visa-and-mastercard-spark-debate-with-latest-crackdown-on-russia","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/visa-and-mastercard-spark-debate-with-latest-crackdown-on-russia\/","title":{"rendered":"Visa And Mastercard Spark Debate With Latest Crackdown On Russia"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fvisa-and-mastercard-spark-debate-with-latest-crackdown-on-russia%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1360278&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/03\/Russian-Money.jpg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>On Saturday, The Daily Wire <a href=\"https:\/\/www.dailywire.com\/news\/breaking-visa-mastercard-suspend-all-operations-in-russia-effective-immediately\">reported<\/a> that financial giants Mastercard and Visa have announced they will be suspending all operations in Russia due to the nation\u2019s military invasion of its neighbor Ukraine. The move could have enormous economic consequences for Russian President Vladimir Putin, as the two firms comprise roughly 74% of all transactions in Russia.<\/p>\n<p>While many praised the move in hopes that it will cripple Russia\u2019s spirit and dwindle their military morale, ultimately leading to a free Ukraine, others saw the move as a net-negative because of the potential global implications for future events.<\/p>\n<p>Visa <a href=\"https:\/\/usa.visa.com\/about-visa\/newsroom\/press-releases.releaseId.18871.html\">issued a press release<\/a> on Saturday stating that \u201ceffective immediately,\u201d the company will be working \u201cwith its clients and partners within Russia to cease all Visa transactions over the coming days.\u201d<\/p>\n<p>\u201cOnce complete, all transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa cards issued by financial institutions outside of Russia will no longer work within the Russian Federation,\u201d the company added.<\/p>\n<p>\u201cWe are compelled to act following Russia\u2019s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed,\u201d Al Kelly, chairman and chief executive officer of Visa Inc., said in a statement. \u201cWe regret the impact this will have on our valued colleagues, and on the clients, partners, merchants and cardholders we serve in Russia. This war and the ongoing threat to peace and stability demand we respond in line with our values.\u201d<\/p>\n<p>Mastercard also <a href=\"https:\/\/www.mastercard.com\/news\/press\/2022\/february\/mastercard-statement\/\">issued a statement<\/a>, explaining that in the coming days, \u201c<span class=\"typography__paragraph--large\">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.\u201d<\/span><\/p>\n<p>While the financial institutions believed they were operating morally, others did not see it that way.<\/p>\n<p>Former attorney to President Donald J. Trump, Jenna Ellis, warned that the move was \u201cterrifying.\u201d<\/p>\n<p>\u201cImagine if MasterCard suddenly doesn\u2019t like what, say, the 47th president does,\u201d Ellis tweeted, which was perceived as a veiled reference to Trump, who has hinted he will run again for the office. \u201cPrepare for the great reset.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">This is terrifying. Imagine if MasterCard suddenly doesn\u2019t like what, say, the 47th president does.<\/p>\n<p>Prepare for the great reset. <a href=\"https:\/\/t.co\/YFdbNfXlVW\">https:\/\/t.co\/YFdbNfXlVW<\/a><\/p>\n<p>\u2014 Jenna Ellis (@JennaEllisEsq) <a href=\"https:\/\/twitter.com\/JennaEllisEsq\/status\/1500241848836710411?ref_src=twsrc%5Etfw\">March 5, 2022<\/a><\/p>\n<\/blockquote>\n<p>Stephan Livera, a popular bitcoin podcaster and pundit, concurred with that assessment, tweeting, \u201cRussian people losing access to Visa and Mastercard is cruel and harsh to everyday citizens who most probably had little to do with what the Russian government is doing.\u201d<\/p>\n<p>\u201cRemember that citizens are not the same as the government,\u201d Livera noted.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Russian people losing access to Visa and Mastercard is cruel and harsh to everyday citizens who most probably had little to do with what the Russian government is doing. <\/p>\n<p>Remember that citizens are not the same as the government.<\/p>\n<p>\u2014 Stephan Livera (@stephanlivera) <a href=\"https:\/\/twitter.com\/stephanlivera\/status\/1500249946171318272?ref_src=twsrc%5Etfw\">March 5, 2022<\/a><\/p>\n<\/blockquote>\n<p>Yet, many welcomed the move for its potential efficacy in stopping Putin.<\/p>\n<p>Prior to the decision, Ukrainian President Volodymr Zelensky had asked U.S. federal officials to shut the two companies off from servicing Russia, Congressman Brad Sherman (D-CA) said.<\/p>\n<p>\u201cZelensky asked us to turn off MasterCard and Visa for Russia,\u201d Sherman tweeted. \u201cI agree. The Financial Services committee needs to look at this next week.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Zelensky asked us to turn off MasterCard and Visa for Russia. I agree. The Financial Services committee needs to look at this next week. (4\/4)<\/p>\n<p>\u2014 Congressman Brad Sherman (@BradSherman) <a href=\"https:\/\/twitter.com\/BradSherman\/status\/1500145111509970947?ref_src=twsrc%5Etfw\">March 5, 2022<\/a><\/p>\n<\/blockquote>\n<p>Pop icon Cher was also begging for the two companies to drop their business in Russia.<\/p>\n<p>\u201cWHAT WE NEED\u203c\ufe0f \u2018VISA\u2019&#038; \u2018MASTERCARD\u2019 TO STOP SERVICING PUTIN \/ RUSSIA\u203c\ufe0f ARE THEY STILL <span>[American]\u00a0<\/span>COMPANIES OR WHAT\u2049\ufe0f\u201d Cher tweeted.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">WHAT WE NEED\u203c\ufe0f<br \/>\u201cVISA\u201d&#038; \u201cMASTERCARD\u201d<br \/>TO  <br \/>STOP SERVICING <br \/>PUTIN \/ RUSSIA\u203c\ufe0f<br \/>ARE THEY STILL \ud83c\uddfa\ud83c\uddf8<br \/>COMPANIES OR WHAT\u2049\ufe0f<\/p>\n<p>\u2014 Cher (@cher) <a href=\"https:\/\/twitter.com\/cher\/status\/1500169889742397440?ref_src=twsrc%5Etfw\">March 5, 2022<\/a><\/p>\n<\/blockquote>\n<p>Franak Viacorka, senior advisor to Belarusian human rights activist Sviatlana Tsikhanouskaya, praised the move, saying, \u201cStrong hit on the Russian regime!\u201d while sharing a political cartoon mocking Putin.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Strong hit on the Russian regime!<a href=\"https:\/\/twitter.com\/Visa?ref_src=twsrc%5Etfw\">@Visa<\/a> and <a href=\"https:\/\/twitter.com\/Mastercard?ref_src=twsrc%5Etfw\">@Mastercard<\/a> decided to suspend their operations in Russia <a href=\"https:\/\/t.co\/B6s73YUJhd\">pic.twitter.com\/B6s73YUJhd<\/a><\/p>\n<p>\u2014 Franak Via\u010dorka (@franakviacorka) <a href=\"https:\/\/twitter.com\/franakviacorka\/status\/1500239603843878912?ref_src=twsrc%5Etfw\">March 5, 2022<\/a><\/p>\n<\/blockquote>\n<p>Seth Stodder, a former Obama appointee, also approved of the move. \u201c<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Good move by <\/span><span class=\"r-18u37iz\">#Mastercard<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> and <\/span><span class=\"r-18u37iz\">#Visa<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> to suspend operations in <\/span><span class=\"r-18u37iz\">#Russia<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">, and further hammer the <\/span><span class=\"r-18u37iz\">#RussiaEconomy<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> as consequence of its murderous aggression against <\/span><span class=\"r-18u37iz\">#Ukraine,\u201d he tweeted.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Good move by <a href=\"https:\/\/twitter.com\/hashtag\/Mastercard?src=hash&#038;ref_src=twsrc%5Etfw\">#Mastercard<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/Visa?src=hash&#038;ref_src=twsrc%5Etfw\">#Visa<\/a> to suspend operations in <a href=\"https:\/\/twitter.com\/hashtag\/Russia?src=hash&#038;ref_src=twsrc%5Etfw\">#Russia<\/a>, and further hammer the <a href=\"https:\/\/twitter.com\/hashtag\/RussiaEconomy?src=hash&#038;ref_src=twsrc%5Etfw\">#RussiaEconomy<\/a> as consequence of its murderous aggression against <a href=\"https:\/\/twitter.com\/hashtag\/Ukraine?src=hash&#038;ref_src=twsrc%5Etfw\">#Ukraine<\/a> <a href=\"https:\/\/t.co\/xixsol4tsN\">https:\/\/t.co\/xixsol4tsN<\/a><\/p>\n<p>\u2014 Seth Stodder (@sethstodder) <a href=\"https:\/\/twitter.com\/sethstodder\/status\/1500265188540313600?ref_src=twsrc%5Etfw\">March 6, 2022<\/a><\/p>\n<\/blockquote>\n<p>Canadian economist Rupa Subramanya suggested that the move will help Mir, a Russian-owned and operated bank that came online after the 2014 invasion of Ukraine.<\/p>\n<p>\u201cRussia has been reducing its reliance on Western payment providers after sanctions in 2014 when Russia annexed Crimea,\u201d Subramanya noted. \u201cMastercard\/Visa market share was already contracting because of a local payment system\/card called Mir which came into effect in 2014\/15. This should help Mir.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Russia has been reducing its reliance on Western payment providers after sanctions in 2014 when Russia annexed Crimea. Mastercard\/Visa market share was already contracting because of a local payment system\/card called Mir which came into effect in 2014\/15. This should help Mir. <a href=\"https:\/\/t.co\/uf3wRN8FOf\">https:\/\/t.co\/uf3wRN8FOf<\/a><\/p>\n<p>\u2014 Rupa Subramanya (@rupasubramanya) <a href=\"https:\/\/twitter.com\/rupasubramanya\/status\/1500257534103494666?ref_src=twsrc%5Etfw\">March 5, 2022<\/a><\/p>\n<\/blockquote>\n<p>It is unclear how long the suspension of services will last.<\/p>\n<p><i>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Saturday, The Daily Wire reported that financial giants Mastercard and Visa have announced they will be suspending all operations in Russia due to the nation\u2019s military invasion of its<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1360278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1360278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1360278"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1360278\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1360278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1360278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1360278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}