Author Topic: Putin eyes Russia credit card system after Western sanctions  (Read 376 times)

0 Members and 1 Guest are viewing this topic.

Offline flowers

  • Hero Member
  • ****
  • Posts: 18,767
Putin eyes Russia credit card system after Western sanctions
« on: March 27, 2014, 03:07:31 PM »
http://news.yahoo.com/russia-create-own-national-payment-system-ptuin-says-000217707.html;_ylt=AwrTWf1mTzRTEUQAWpfQtDMD

Quote
Moscow (AFP) - President Vladimir Putin on Thursday said Russia should create its own national payment settlement system, in a bid to reduce economic dependence on the West amid the controversy over Moscow's seizure of Crimea.


"In countries such as Japan and China these systems work, and work very well," Putin told lawmakers in televised remarks.

"Initially, they started out solely as national systems limited to their own markets, their own territory, their own population but they are becoming more popular right now."

"Why should we not do it? We should definitely do it and we will do it," he said, noting that Russia's Central Bank and the government have been looking into the matter.

Last week the United States hit more than 20 Russian officials, including some of Putin's closest allies, with sanctions over Moscow's takeover of the Black Sea peninsula of Crimea from Ukraine. A lender described as a "crony bank" for the Russian elites, Bank Rossiya, was also blacklisted.



"It's a great shame that some companies have taken a decision on certain restrictions," Putin said.

« Last Edit: March 27, 2014, 03:09:14 PM by flowers »


Offline Chieftain

  • AMF, YOYO
  • Hero Member
  • ****
  • Posts: 9,633
  • Your what hurts??
Re: Putin eyes Russia credit card system after Western sanctions
« Reply #1 on: March 27, 2014, 03:16:25 PM »
Putin is not as gutless as Obama, and there are a fair number of ways he can screw Obama right in his still-beating heart.  Obama has deliberately taken the US down several degrees in magnitude, and Putin is unafraid of taking us down a few more.


Offline Oceander

  • Technical
  • Hero Member
  • ****
  • Posts: 45,274
  • #ToldYouSo
Re: Putin eyes Russia credit card system after Western sanctions
« Reply #2 on: March 27, 2014, 06:12:52 PM »
considering the amount of graft and corruption that usually seeps into autocratic governments, I don't see this ending well; it'll probably end up being a cracker's wet dream.

Offline xfreeper

  • Hero Member
  • ****
  • Posts: 1,546
Re: Putin eyes Russia credit card system after Western sanctions
« Reply #3 on: March 27, 2014, 07:04:42 PM »
I almost find myself cheering putin on. The US needs a good kick in the ass he is giving it.

Offline Oceander

  • Technical
  • Hero Member
  • ****
  • Posts: 45,274
  • #ToldYouSo
Re: Putin eyes Russia credit card system after Western sanctions
« Reply #4 on: March 27, 2014, 07:21:26 PM »
I almost find myself cheering putin on. The US needs a good kick in the ass he is giving it.

maybe so, but setting up his own credit card/payment settling system isn't going to add one whit to that kicking; in fact, it's more likely to backfire on Putin and give him a black eye.


Share me

Digg  Facebook  SlashDot  Delicious  Technorati  Twitter  Google  Yahoo
Smf