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You'd think letting people transfer money outside of the sanctioned country is in accord to the stated goals of sanctions. Is this move really practical, or jus
by ZoomZoomZoom 5y ago
You'd think letting people transfer money outside of the sanctioned country is in accord to the stated goals of sanctions. Is this move really practical, or just a showing MC and Visa are politically in line with the rest of the businesses?
- dgoldstein0 5y agoI'd imagine in a lot of cases the payment network doesn't know if you are moving your own money, or paying for something - the latter which could benefit Russia or a Russian company. E.g. if was Russian and paying Google for Google docs for my Russia based business - I think that might be disallowed by the current sanctions? I suppose I'm trying to say - the payment providers see where the cash is going, but not what you are getting in return. Without that visibility it's hard to more selectively ban transactions.