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VISA and Mastercard Ban On Russia
Sparks Further Financial Warfare

Following the Crimean crisis, the West has promptly sanctioned Russia by cutting Russian banks off the VISA and Mastercard system.

Russia has vowed to respond to this action. It is very likely that Russia's response will hit the US dollar. Let's keep in mind the fact that Russia's decisions may influence the BRICs' decisions in the future.

Will we see petrogold instead of the petrodollar?

Will Russia start dumping their US dollar reserves?

Could the BRICs finally launch the long-predicted alternative reserve currency of the World?

One thing is clear - currency and trade wars are happening. We are in the middle of it.

Reuters says in this article that Russia will introduce their own system to replace VISA and Mastercard.

Russia might join the BRICs and respond harshly to the West's sanctions.
We can expect an escalation of the economic and financial warfare that has already been used by all sides. We will probably see more dollar avoidance by certain countries, an intensification of bilateral economic agreements etc.

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