Visa, Mastercard and Amex Suspend Operations in Russia
The Facts
Visa and Mastercard suspended their operations in Russia on Saturday, citing the invasion of Ukraine.
Amex followed suit on Sunday, pulling out of both Russia and Belarus.
The Spin
Anti-Russia narrative
Harsh economic sanctions are the West's best hope for deterring Putin and halting his invasion. This is a good start, and Russia's economy is already starting to crack, but even more is needed to bring Putin to the negotiating table.
Pro-Russia narrative
The only ones really affected by Western sanctions are ordinary Russian people, who have nothing to do with the war. The invasion of Ukraine is just the latest unsanctioned military adventure and crime by an unelected and increasingly unaccountable dictator. The sanctions are immoral.
Cynical narrative
This won't have the intended effects either way. The move will only help Mir, a Russian payment system that began operations following Russia's 2014 intervention in Ukraine, and push the country towards China's UnionPay system.
Establishment-critical narrative
It's hypocritical to impose sanctions on Russia for invading Ukraine, but not on the US for invading Iraq for equally unjustified reasons, or on Israel for invading and annexing Arab lands.
Right narrative
Americans should be apprehensive of this, as progressive activists have pushed for this tactic to be used against right-wing voices and will likely continue to do so.
