Thread by @just_whatever

Since people do not understand how awful and misleading @Mastercard and @Visa decisions are, I want to expose them and show that they are not helping the Putin’s regime, but inadvertently (I hope so) helping it. A thread (please spread): 0/11

reuters.com/business/finan…

First - a disclaimer. I have a bank account in Russia from when I worked there more than 14 years ago, but I’m not using it and it has about 300 dollars, I have bank accounts in other countries and they are all fine and working, so I am not directly affected by this measure.
1/11

Now let’s have a closer look on what both companies did (see screenshots with the excerpt from their statements, links to them in the last tweet): the companies now prohibit to use Visa & Mastercard issued in Russia abroad, and prohibit cards from abroad to be used in Russia 2/11

Have you spotted a noticeable gap? The cards issued in Russia by Mastercard & Visa… drumroll… will not be affected. Why so? Well, because the transactions through them are outsourced The National Payment Card System, meaning those in Russia are not affected at all by this 3/11

Russian Central Bank has confirmed it in this statement (link to it in the last tweet). They have clarified that all card holders can freely use them in Russia and all cards will be valid up until their expiration date. So you may ask, who are punished by this decision? 4/11

The answer is those people who escaped from Putin’s regime relatively recently, who were persecuted by it and who had to flee (opposition, press). Those who are now unable to open bank account, to whom Putin just a day ago blocked an opportunity to transfer any funds abroad. 5/11

If you a resident of Russia (applies to those who recently fled and are abroad for less than 6 months) - you cannot transfer at all. If you are a non-resident - you can try to transfer 5,000 USD, but the transfer from Russia is unlikely to happen in present circumstances. 6/11

If you think it is petty to think about money when people in Ukraine are dying, tell me, a Jew, about that with relatives from Ukraine, who managed to transfer women and youth from Odessa to EU just days ago. Those Russians who fled Russia are also refugees of war & tyranny. 7/11

I don’t have exact numbers of how many people fled Russia, but they should be in tens of thousands already too, if not more. Many Russians here in Europe helped to organize protests in support of Ukraine, they helped my relatives too, they are vocal. 8/11

bbc.com/news/world-606…

Those who ask Russians who fled persecutions to return and fight are invited to do so themselves. German Chancellor Scholz reiterated it especially given that many in Russia were murdered, arrested, tortured or even poisoned by the regime and fought it until the last moment. 9/11

As a conclusion: @Visa & @Mastercard directly punish those who fought or continue to fight Putin, while their decision will have no effect on Putin’s supporters in Russia. 2 companies did exactly what EU leaders urged companies and people not to do against fleeing Russians. 10/11

Links to all sources. 11/11

Russian Central bank Statement (in Russian) cbr.ru/press/event/?i…

NSPK web site: nspk.com

Visa statement usa.visa.com/about-visa/new…

Mastercard statement: mastercard.com/127986/alterna…

Chancellor’s Scholz speech: bundesregierung.de/breg-en/news/p…