Further evidence of the geopolitical dynamics underlying Russia's invasion of Ukraine. While some countries are tightening their connections (e.g. NATO countries), some others are trying to...
President Joko "Jokowi" Widodo has urged regional administrations in the country to wean themselves off foreign payment networks like Mastercard and Visa and start using credit cards issued by domestic banks to shield any transactions from possible geopolitical fallout that could disrupt economic transactions.
Jokowi said that the war in Ukraine with the attendant economic sanctions imposed by the United States could create problems as economic tools, including payment systems, could be used against countries perceived to have any involvement in the conflict.
"Be very careful. We must remember the sanctions imposed by the US on Russia. Visa and Mastercard could be a problem," President Jokowi told a national meeting to promote the use of Indonesian-made products and services.
Further evidence of the geopolitical dynamics underlying Russia's invasion of Ukraine. While some countries are tightening their connections (e.g. NATO countries), some others are trying to decouple from global economic dependencies and attempting to insulate themselves against external influence.
Further evidence of the geopolitical dynamics underlying Russia's invasion of Ukraine. While some countries are tightening their connections (e.g. NATO countries), some others are trying to decouple from global economic dependencies and attempting to insulate themselves against external influence.