UnionPay: China’s alternative to Visa and Mastercard is a controversial new lifeline for Russians

An article in Fortune on 11 March says that China’s UnionPay is emerging as a payments work-around for Russian citizens as sanctions bite, helping cement Russia’s shift away from Western-led systems and towards Chinese providers looking to expand their global footprint.


Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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