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> Even if a brain drain were desirable, there's no way the effectiveness of that outweighs the harm to the economy that the cutoff by Visa/Mastercard would have
by tablespoon 5y ago
> Even if a brain drain were desirable, there's no way the effectiveness of that outweighs the harm to the economy that the cutoff by Visa/Mastercard would have.
My understanding is that the cutoff only affects 1) foreign cards in Russia and 2) Russian cards outside of Russia, because domestic Russian credit card transactions are cleared with a different (domestic) system. So it mainly affects tourists and expats, and probably has minimal impact on the domestic economy.
- jolmg 5y ago> 2) Russian cards outside of Russia, because domestic Russian credit card transactions are cleared with a different (domestic) system. So it mainly affects tourists and expats, and probably has minimal impact on the domestic economy. Wouldn't that also affect online transfers that cross their border? For example, their international purchases and payment of services, and also their receipt of payments from international employers or clients.