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> It does feel coordinated This whole thread has been an eye opener for me, I had no idea so many people had so little idea of what 'economic sanctions' means

> It does feel coordinated This whole thread has been an eye opener for me, I had no idea so many people had so little idea of what 'economic sanctions' means. Yes, yes it does feel coordinated. Have you noticed it came after sanctions were announced as well??

cm2187 5y ago
Thanks for implying I don't know what an economic sanction is. I do not believe this is part of the economic sanctions announced by gvts. This is a private initiative.
- youngNed 5y ago
  Apologies for any confusion, I wasn't implying, I was *stating* that you have no idea what economic sanctions are. "As a result of sanction orders, we have blocked multiple financial institutions from the Mastercard payment network. We will continue to work with regulators in the days ahead to abide fully by our compliance obligations as they evolve." Source: https://www.mastercard.com/news/press/2022/february/mastercard-statement/ https://www.mastercard.com/news/press/2022/february/masterca...
  - cm2187 5y ago
    Ceasing operations with a certain number of banks that were individually sanctioned != ceasing operations in the whole country.
- 323 5y ago
  An article from yesterday regarding SWIFT explained this. The western govs issued a "commander's intent" to sanction Russia. That's basically a direction that every financial entity which does transactions with Russia must assume that they too should suspend operations, unless explicitly cleared otherwise. Russia was declared "untouchable", unless you have explicit permission to touch it (like energy markets). https://en.wikipedia.org/wiki/Intent_(military) https://en.wikipedia.org/wiki/Intent_(military)
  - vimy 5y ago
    I don’t think that’s true. Otherwise, Mastercard/Visa/Paypal wouldn’t have waited this long. I think Russia is being ‘canceled’. They have become toxic to companies. It’s PR related, not because of government orders.
    - Gibbon1 5y ago
      Two things. Dealing with Russia is now problematic for top level corporate management and attention of top level management is always a scarce resource. General rule products and customers that require too much of it for the profits generated get the axe. Russia is about to get a lot poorer. So any business you have with Russia is going to shrink.
    - fknorangesite 5y ago
      > I think Russia is being ‘canceled’. Jesus this term really has lost all meaning at this point, hasn't it.
      - vkou 5y ago
        No, I think it clarifies the meaning quite substantially. Behave outside of the bounds of accepted civilized discourse, get 'canceled'.
        forum_ghost 5y ago
      - vimy 5y ago
        No, it's the exact same meaning as when it happens to a person. What vkou said. https://twitter.com/ConallLaverty/status/1499414982429224974 https://twitter.com/ConallLaverty/status/1499414982429224974 Almost none of these companies left because of sanctions, they left voluntary. Companies could still get paid without swift access if they wanted to, that's not the issue. Doing business in Russia has become toxic. It's a race to get out.
      - 5y ago
syshum 5y ago
while this action is clear based on the sanctions, MasterCard, Visa and Paypal have not done themselves any favors based on the past actions of acting cartel like in other situations which were not based on sanctions. It is easy (for me anyway) to see how some people could consider their actions to be in the same vein of their previous attempts to regulate the speech and actions of private individuals they find politically disagreeable. MC and Paypal being the much bigger offenders of that...

cm2187 5y ago

Thanks for implying I don't know what an economic sanction is. I do not believe this is part of the economic sanctions announced by gvts. This is a private initiative.

youngNed 5y ago
Apologies for any confusion, I wasn't implying, I was *stating* that you have no idea what economic sanctions are. "As a result of sanction orders, we have blocked multiple financial institutions from the Mastercard payment network. We will continue to work with regulators in the days ahead to abide fully by our compliance obligations as they evolve." Source: https://www.mastercard.com/news/press/2022/february/mastercard-statement/ https://www.mastercard.com/news/press/2022/february/masterca...
- cm2187 5y ago
  Ceasing operations with a certain number of banks that were individually sanctioned != ceasing operations in the whole country.
323 5y ago
An article from yesterday regarding SWIFT explained this. The western govs issued a "commander's intent" to sanction Russia. That's basically a direction that every financial entity which does transactions with Russia must assume that they too should suspend operations, unless explicitly cleared otherwise. Russia was declared "untouchable", unless you have explicit permission to touch it (like energy markets). https://en.wikipedia.org/wiki/Intent_(military) https://en.wikipedia.org/wiki/Intent_(military)
- vimy 5y ago
  I don’t think that’s true. Otherwise, Mastercard/Visa/Paypal wouldn’t have waited this long. I think Russia is being ‘canceled’. They have become toxic to companies. It’s PR related, not because of government orders.
  - Gibbon1 5y ago
    Two things. Dealing with Russia is now problematic for top level corporate management and attention of top level management is always a scarce resource. General rule products and customers that require too much of it for the profits generated get the axe. Russia is about to get a lot poorer. So any business you have with Russia is going to shrink.
  - fknorangesite 5y ago
    > I think Russia is being ‘canceled’. Jesus this term really has lost all meaning at this point, hasn't it.
    - vkou 5y ago
      No, I think it clarifies the meaning quite substantially. Behave outside of the bounds of accepted civilized discourse, get 'canceled'.
      - forum_ghost 5y ago
    - vimy 5y ago
      No, it's the exact same meaning as when it happens to a person. What vkou said. https://twitter.com/ConallLaverty/status/1499414982429224974 https://twitter.com/ConallLaverty/status/1499414982429224974 Almost none of these companies left because of sanctions, they left voluntary. Companies could still get paid without swift access if they wanted to, that's not the issue. Doing business in Russia has become toxic. It's a race to get out.
    - 5y ago

syshum 5y ago

while this action is clear based on the sanctions, MasterCard, Visa and Paypal have not done themselves any favors based on the past actions of acting cartel like in other situations which were not based on sanctions. It is easy (for me anyway) to see how some people could consider their actions to be in the same vein of their previous attempts to regulate the speech and actions of private individuals they find politically disagreeable. MC and Paypal being the much bigger offenders of that...