As a result of the Russia-Ukraine war, Russia is now experiencing a series of sanctions called 'economic war'. The goal is to isolate Russia and create a severe recession in Russia. The leaders of Western countries hope that this action can change their minds about the invasion of Ukraine.
As a result of these sanctions, the Russian people are now feeling the effects. The contents of their savings are drained and their lives are disrupted.
A number of sanctions against Russian banks include making them no longer able to use Visa and Mastercard, as well as Apple Pay and Google Pay.Daria, a 35-year-old project manager in Moscow, admits she cannot use the subway service.
"I always pay using my cellphone, but now I can't. There are many people who have the same problem. It turns out that the entrance to the subway is operated by the VTB bank, which has been penalized so it doesn't accept Google Pay and Apple Pay," said Daria.
"I had to buy a metro card. I also couldn't pay at the store today for the same reason," he added.
Russia raised interest rates to 20 percent starting Monday (28/2) to maintain the ruble, which has fallen sharply due to the impact. The stock market was still closed amid fears by many that there would be a massive stock sale.
The Kremlin insists that Russia has sufficient resources to counter the series of sanctions, but that assertion is doubtful.
Over the weekend, the Central Bank of Russia appealed to the people to remain calm in order to prevent a massive withdrawal of money.
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