News / Europe

    Putin Says Russia Developing Its Own Consumer Credit System

    Russian President Vladimir Putin (L) meets with Prime Minister Dmitry Medvedev at the Novo-Ogaryovo state residence outside Moscow, March 27, 2014.
    Russian President Vladimir Putin (L) meets with Prime Minister Dmitry Medvedev at the Novo-Ogaryovo state residence outside Moscow, March 27, 2014.
    VOA News
    Russian President Vladimir Putin says Russia is developing its own national credit card system so his countrymen do not have to rely on financing from Western companies.

    Putin said Thursday that Russia's central bank and the government are exploring a new payment system that he compared to ones that exist inside China and Japan. Creation of a Russian finance system could reduce the possible fallout from economic sanctions the West has imposed on Russian business and political leaders in the aftermath of Moscow's annexation of Ukraine's Crimean peninsula.

    The Russian leader's announced intentions came days after two U.S. credit card companies, Visa and MasterCard, temporarily blocked their transactions at Moscow banks.

    The U.S. finance companies said they they were forced to take the action because of U.S. sanctions imposed on the owners of the banks to protest Russia's takeover of Crimea. But the credit firms quickly resumed business in Russia when the U.S. said the sanctions were not aimed at the banks, but rather the bank officials, many of them friends of Putin.

    The U.S. and European Union have condemned Russia's annexation of Crimea and say they will stiffen their sanctions against Moscow if it advances farther into Ukraine. The world's leading economies have removed Russia from the Group of 8 and say they will not attend a planned June summit in Sochi, Russia, site of the recent Winter Olympics.

    You May Like

    Native Americans Ask: What About Our Water Supply?

    They say they have been facing a dangerous water contaminant for decades - uranium – but the problem has received far less attention than water contamination by lead in Flint, Michigan

    Pakistan's President Urges Nation Not to Celebrate Valentine's Day

    Mamnoon Hussain criticizes Valentine's Day, which falls on Sunday this year, as a Western import that threatens to undermine the Islamic values of Pakistan

    Mother of IS Supporter: Son Was Peaceful, 'Role Model'

    Somali-American Abdirizak Mohamed Warsame pleaded guilty Thursday to charges of conspiring to provide material support to Islamic State militants

    This forum has been closed.
    Comment Sorting
    Comments
         
    by: Claudia L from: USA
    March 29, 2014 3:08 PM
    Why doesn't Russia use the Chinese credit card Union Pay. Union Pay has 3.5 BILLION in circulation. It is the most held credit card in the world. They had 2.5 TRILLION transactions in the first ½ of last year. Aren't China and Russia buddies???? Maybe not!

    by: joe from: chester ny
    March 29, 2014 2:26 AM
    how can rhe russians justify their bullying against a country that wants to join the free world!!! despite the objections of a great country like U.S.A.

    by: meanbill from: USA
    March 27, 2014 7:45 PM
    CRAZY isn't it? ... One would think a great country like Russia, would've had a bank credit card system already, wouldn't you?
    The sanctions taken against Russia has already helped Russia, to create jobs, and keep their money in Russia, with credit cards and the interest off them, haven't they?
    In Response

    by: Milind from: USA
    March 28, 2014 1:00 AM
    This is the warning bell, they might be preparing for something that might block the banking

    by: Tomas Landry from: mt. Vernon Illinois
    March 27, 2014 5:30 PM
    Russia has BALLS!

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Two-thirds of World Faces Water Shortagei
    X
    February 12, 2016 7:31 PM
    Four billion people — or two out of every three on the planet — do not have enough water to meet their basic needs. That is far greater than previously thought, according to a new study that presents a more accurate picture of the problem. As VOA's Rosanne Skirble reports, the findings will help policymakers and the public craft solutions to address the threat.
    Video

    Video Two-thirds of World Faces Water Shortage

    Four billion people — or two out of every three on the planet — do not have enough water to meet their basic needs. That is far greater than previously thought, according to a new study that presents a more accurate picture of the problem. As VOA's Rosanne Skirble reports, the findings will help policymakers and the public craft solutions to address the threat.
    Video

    Video Gateway to Mecca: Historical Old Jeddah

    Local leader Sami Nawar's family has been in the Old City of Jeddah for hundreds of years and takes us on a tour of this ancient route to Mecca, also believed to be the final resting place of Adam's wife, Eve.
    Video

    Video New Technology Aims to Bring Election Transparency to Uganda

    A team of recent graduates from Uganda’s Makerere University has created a mobile application designed to help monitor elections and expose possible rigging. The developers say the app, called E-Poll, will make Uganda's democratic process fairer. From Kampala, VOA's Serginho Roosblad reports.
    Video

    Video As Refugees Perish, Greek Graveyards Fill

    Aid workers on the Greek island of Lesbos say they are struggling to bury the increasing number of bodies of refugees that have been recovered or washed up ashore in recent months.  The graveyards are all full, they say, yet as tens of thousands of people clamor to get out of Syria, it is clear refugees will still be coming in record numbers. For VOA, Hamada Elrasam reports from Lesbos, Greece.
    Video

    Video Russia Bristles at NATO Expansion in E. Europe

    Russian Foreign Minister Sergei Lavrov is meeting Friday with the head of NATO after the Western military alliance and the United States announced plans for the biggest military build-up in Europe since the Cold War. Russia has called NATO's moves a threat to stability in Europe. But NATO says the troop rotations and equipment are aimed at reassuring allies concerned about Russia as VOA's Daniel Schearf reports from Moscow.
    Video

    Video To Fight Zika, Scientists Target Mosquitoes

    Mosquitoes strike again. The Zika virus outbreak is just the latest headline-grabbing epidemic carried by these biting pests, but researchers are fighting back with new ways to control them. VOA's Steve Baragona takes a look.
    Video

    Video Mosul Refugees Talk About Life Under IS

    A top U.S. intelligence official told Congress this week that a planned Iraqi-led operation to re-take the city of Mosul from Islamic State militants is unlikely to take place this year. IS took over the city in June 2014, and for the past year and a half, Mosul residents have been held captive under its rule. VOA's Zana Omar talked to some families who managed to escape. Bronwyn Benito narrates his report.
    Video

    Video Scientists Make Progress Toward Better Diabetes Treatment, Cure

    Scientists at two of the top U.S. universities say they have made significant advances in their quest to find a more efficient treatment for diabetes and eventually a cure. According to the International Diabetes Federation, the disease affects more than 370 million people worldwide. VOA’s George Putic reports.
    Video

    Video NATO to Target Migrant Smugglers

    NATO has announced plans to send warships to the Aegean Sea to target migrant smugglers in the alliance's most direct intervention so far since a wave of people began trying to reach European shores.
    Video

    Video Russia's Catholics, Orthodox Hopeful on Historic Pope-Patriarch Meeting

    Russia's Catholic minority has welcomed an historic first meeting Friday in Cuba between the Pope and the Patriarch of Russia's dominant Orthodox Church. The Orthodox Church split with Rome in 1054 and analysts say politics, both church and state, have been driving the relationship in the centuries since. VOA's Daniel Schearf reports from Moscow.
    Video

    Video Used Books Get a New Life on the Streets of Lagos

    Used booksellers are importing books from abroad and selling them on the streets of Africa's largest city. What‘s popular with readers may surprise you. Chris Stein reports from Lagos.
    Video

    Video After NH Primaries All Eyes on South Carolina

    After Tuesday's primary in New Hampshire, US presidential candidates swiftly turned to the next election coming up in South Carolina. The so-called “first-in-the-South” poll may help further narrow down the field of candidates. Zlatica Hoke reports.
    Video

    Video Smartphone Helps Grow Vegetables

    One day, you may be using your smartphone to grow your vegetables. A Taipei-based company has developed a farm cube — a small, enclosed ecosystem designed to grow plants indoors. The environment inside is automatically adjusted by the cube, but it can also be controlled through an app. VOA's Deborah Block has more on the gardening system.
    Video

    Video Exhibit Turns da Vinci’s Drawings Into Real Objects

    In addition to being a successful artist, Renaissance genius Leonardo da Vinci designed many practical machines, some of which are still in use today, although in different forms. But a number of his projects were never realized — until today. VOA’s George Putic reports.