The recent invasion of Ukraine has put the world in a state of uncertainty, turmoil and geopolitical risk. Volatility in the global financial markets has caused immense losses to millions of investors. With rising global inflation, fear of tapering liquidity, and increasing interest rates by the United States Federal Reserve, havoc is spreading across the global economy.
Additionally, the delinking of SWIFT messaging services for leading Russian banks is causing concern among entrepreneurs in the nation while also impacting other economies with strong Russian trade ties. With Visa (NYSE:) and Mastercard (NYSE:) halting their Russian operations, there will be further untold consequences for the interoperability of their payment systems and the everyday citizens who rely on them.
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