Mastercard, Visa and Many Other Companies Cut Ties with Russia

Matthew 24:6 “And you will hear of wars and rumors of wars. See that you are not alarmed, for this must take place, but the end is not yet.”

Important Takeaways:

  • Mastercard and Visa cut off Russian banks from their networks: Exodus of foreign firms plunges Russia’s economy into freefall as ruble hits record low and Moscow residents continue scramble for hard currency
  • Visa and Mastercard have blocked multiple Russian banks from their network
  • It means that many Russians awoke Tuesday unable to use their bank cards
  • Everyday Russians have been making runs on banks to withdraw cash
  • The ruble has plunged in value amid punishing Western sanctions
  • Scores of companies are pulling out of Russia in response to Ukraine invasion
    • Other Companies cutting ties with Russia:
      • Adidas
      • BP
      • Dell
      • DHL
      • Disney
      • Ericsson
      • FedEx
      • GM
      • Harley-Davidson
      • HSBC
      • MasterCard
      • Nokia
      • Shell
      • Sony
      • Uber
      • UPS
      • Visa
      • Volvo
      • Warner Bros.

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