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Sanctions Mean Apple Pay And Google Pay No Longer Work On Russian Subways

google pay and apple pay not working on russian subway
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EDITOR'S NOTE: It’s tragic that the actions of one autocratic leader would bring about the full force of international economic wrath on the citizens of a country to which he’s responsible yet toward which he deems secondary or tertiary to his own inexplicable motivations and desires. The impact of overwhelming sanctions is now being felt by the average Russian on the street. Unable to use Apple Pay or Google Pay (Russian) to buy a metro train ticket, people have to fumble for cash. But even that has become a drastic burden, as ATM lines, growing by the day, are just a spark away from a full-on nationwide bank run. Those holding physical monetary assets (cash, gold, silver, or anything tradable) may do better than their fellow citizens, though that’s not much of comfort considering friends and neighbors. What we’re witnessing is a new level of economic warfare that may perhaps be the harshest ever waged on a single superpower nation. The potential for collapse is virtually a given but the manner in which it may unfold (and the millions of lives it will impact) is simply unknowable. The tragic thing about it all is that it’s virtually aimed at one man and a handful of supporters among 144.1 million citizens who will absorb the brunt of the punishment.

The impact of sanctions against Russia are beginning to be felt by its citizens.

It has been reported that Apple Pay and Google Pay are no longer working for Russians as they attempt to use Moscow’s metro system.

This news comes as Western nations agreed to block some Russian banks from the Swift international payment system, as well as the restriction of Russia’s ability to use its foreign currency reserves.

In a nutshell

Russians have flocked to ATMs throughout the last few days as economic sanctions placed on Russia by the west begin to take effect. There have been reports on social media that ATMs are now beginning to run out of money, resulting in long queues of Russians attempting to withdraw cash.

In the midst of the impact the sanctions placed on Russia by the west have created, Moscow’s department of public transport warned residents of the city that problems may be experienced when attempting to pay fares via Apple Pay, Google Pay and Samsung Pay.

These warnings came as a result of restrictions placed on VTB, a Russian bank which handles card payments for Moscow's metro, buses and trams.

Entrepreneur Vladimir Vyaselov told ABC news that, “I can’t say I was ready (for sanctions) but I was as ready as possible being a citizen of the Russian Federation.”

These warnings came as a result of restrictions placed on VTB, a Russian bank which handles card payments for Moscow's metro, buses and trams.

Entrepreneur Vladimir Vyaselov told ABC news that, “I can’t say I was ready (for sanctions) but I was as ready as possible being a citizen of the Russian Federation.”

Multiple sanctions have been placed on Russia by countries and organisations around the world in an attempt to halt Russia’s aggression on Ukraine.

These sanctions include a number of Russian banks being removed from Swift, to “ensure that these banks are disconnected from the international financial system and harm their ability to operate globally”.

On Monday, a senior U.S. administration official told Reuters that their “Objective is to make sure that the Russian economy goes backwards if President Putin decides to continue to go forward with an invasion in Ukraine, and we have the tools to continue to do that".

Originally posted on Buzz.

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All articles are provided as a third party analysis and do not necessarily reflect the explicit views of GSI Exchange and should not be construed as financial advice.

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