Financial sanctions against Russia have strangled its banks' profits and wrecked many lenders' international operations, but one year after Moscow sent its troops into Ukraine how much do they matter for average Russians? Answer: Not much
also meant their cards issued there stopped working abroad, sparking a rush to Russia's alternative, Mir cards.
Yet Mir, which means "world" or "peace" in Russian, is facing headwinds abroad, with some "friendly" countries - those that have not sanctioned Russia - such as"I quickly opened three UnionPay cards at different Russian banks," Andrey, who now works outside Russia, said. "Moreover, I went to Kazakhstan to get a MasterCard there, which proved to be invaluable in the past year.
The transaction, based entirely on trust, was completed three hours later when a woman arrived at his hotel room in Dubai with around $50,000 in a paper KFC bag.Thousands of Russians who have flocked to Dubai found that that even though it is a "friendly" destination, opening a bank account there was anything but straightforward, especially without an Emirati ID.
"We lost our assets after Feb. 24, 2022 and still to this day - assets are frozen and they remain so," said investor Svetlana Mavrinskaya.
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