FUKUS axis imposes sanctions, Russian Oligarchs Shrug

builders chaos
Got the builders in (source)

This may seem like another lazy post as most of it is lifted from finanial news sheets but we have builders in and having been living in what could easily pass for a comfortable suburban home in Gaza, Syria or Iraq all week we are spending the weekend perched on piles of boxes, new kitchen units, all the stuff that accumulates over a forty year marriage and a collection of low value builders tools.

It’s a situation that does not encourage creativity. I was amused by this however …

Russian Oligarchs Dump Visa, Switch To Chinese Credit Card

russian oligarchs
Russian Oligarchs (source)

You have probably read a torrent of arse dribble in mainstream media about “Russia is becoming increasingly isolated” It’s a meme that political leaders in the FUKUS axis, EU and NATO would like us to believe.

It isn’t quite the whole story however.

As Russia continues to cut de-dollarization deals and trade agreements with its BRICS (Brazil, Russia, India, China, South Africa) allies and Iran while continuing with retaliatory actions against the US and Europe, (If you remember, Obama cancelled the bus passes of retired Russian gangsters living in Florida,) it appears the ‘sanctioned’ friends of Putin are taking matters into their own hands.

Billionaire oligarch Gennady Timchenko, among the first to be hit by travel bans and asset freezes by the US, has decided to tear up his Visa and Mastercard, shifting all his credit cards to China’s UnionPay, noting that in some ways it is more secure than Visa because at least the American security agencies can’t track his transactions.

The Western meme goes something like this…

“Russia risks becoming a pariah state if it does not behave properly,” U.K. Foreign Secretary Philip Hammond said on Sky news this week.

However, after various deals with BRICS and Middle East nations, it appears Russia can find plenty of ‘friends’.

And now the the Russian government and the oligarchs and de-dollarizing… (via ITAR-TASS and Google Translate)

Russian businessman Gennady Timchenko (said) because of the U.S. sanctions imposed against him in March 2014 after the annexation of the Crimea to the Russian Federation, (he) has replaced by Visa and MasterCard for card payment system China Union Pay and wallet with cash.

Timchenko March 20 was included in the U.S. Treasury list of persons with whom the U.S. companies and citizens have the right to maintain the business relationship, including U.S. registered Visa and MasterCard.

Businessman said that stopped using these cards payment systems. “We’ll have to, as before, to carry a purse with cash,” – complained Timchenko, adding that also enjoys card Chinese Union Pay.

“As the sanctions imposed, it immediately issued,” – he said. “Excellent work! And accept card in many places. In some ways more secure than Visa. At least Americans will not reach” – said Timchenko.

The targeting eof businessmn in the U.S. sanctions list created trouble for electronic payments system said Russian President Vladimir Putin on April 17 during his “straight line”, describing the incident as a violation of human rights.

The move has also created trouble for US and European banks as the Russians have been moving serious amounts of money out of reach of the US and its allies.

While Obama and his little chums hopes that pressure on the oligarchs will create some grief for Putin, saner heads worry that it will merely corner Russia into survival mode and that could lead to serious repurcussions in the west.

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