Russian bank customers banned from using Apple and Google service. The US is imposing sanctions on the country for attacking Ukraine. As a matter of fact, a number of customers at Russian banks are informed. That they are unable to use their bank cards with Apple and Google service. According to Russia’s Central Bank statement, customers of banks that come under the authorization ( Novikombank, VTB Group, Sovcombank, Promsvyazbank, and Otkritie ). Will be unable to pay with cards of these banks abroad. In addition, the Central Bank informs. That the cards of these banks will be unable to use with Apple and Google service. Additionally, contactless payment and standard contact with these cards are handy all over Russia.
Apple And Google Service Not So Popular In Russia
Then, the borders were informed late on Saturday. By all means, Apple and Google services are not as famous in Russia as they are in the US. Similarly, followed by YooMoney ( previously Yandex Money ) and QIWI, two other Russian payment service providers. Russia’s most famous mobile payment service was Russia- owned Sberbank Online.
However, last report figures show that 20% use Apple Pay and 29% of Russians use Google Pay. Therefore, the US has put the authorization on two of Russia’s most prominent financial institutions, Sberbank and VTB bank. In contrast, the UK preserves the assets of five Russian banks.
Furthermore, The White House has reported that the US, joined by European nations and Canada. Will separate a few Russian banks from SWIFT. Moreover, the payment network is used for most international financial transactions.
Other Countries In Support Of Ukraine
Later, several countries are imposing financial authorization against Russia prior to this week. After it place armed forces in two breakaway regions of Ukraine. Afterward, on Thursday, the authorization was moved up after Moscow ordered the occupation of Ukraine. Then the Russian President said that it was an act of self-defense against NATO expansion in eastern Europe.
Simultaneously, the UK, US, Australia, and European Union are those governments that are freezing the foreign-held assets of Russian banks. That also includes General Bank, Rossiya, Sberbank, IS Bank, and the Black Sea Bank.
Soon, the US President, Joe Biden, said on Thursday that “Every asset they have in America will be frozen.” Then, the Wall Street Journal reported that people in Russia had been lined up at ATMs. To have US Dollars over concerns that the value of the Russian ruble will continue to crash. Then, MSNBC reported that a few banks in Moscow are going out of US Dollars. Though, the mass withdrawals have led to fears of a run on banks. Which could leave them short of capital needed for lending and financing.
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