Founder and CEO of Petcube, partner and co-founder of financial company fuelfinance, Yaroslav Azhnyuk, announced that the accounts of entrepreneurs from Ukraine were blocked by the Mercury payment system from the USA.
Points of attention
- The American payment system Mercury blocked the accounts of Ukrainian entrepreneurs due to their country of origin, impacting their business activities.
- The financial challenges in Ukraine, including blocked foreign bank accounts and increasing loan interest rates, are creating hurdles for businesses.
- Yaroslav Azhnyuk raised concerns about the unfair treatment by American financial institutions towards Ukrainian businessmen, affecting their ability to conduct transactions.
Ukraine was included in the "black list" of resident countries
On his Facebook page, Azhniuk drew attention to the alarming situation with the accounts of Ukrainian businessmen in American banks.
Thirty minutes ago, Ukrainian entrepreneurs who work from the USA and have an account at Mercury Bank received the following letters: "Due to recent changes, we stop supporting the accounts of companies whose founders have passports of these countries: Belarus, Cuba, Iran, North Korea , Russia, Syria, UKRAINE, Venezuela". The list is great. I don't know what to say here.
Yaroslav Azhnyuk
Ukrainian businessman
The entrepreneur reminded that this is not the first such situation on the part of the American financial system. Earlier this year, Azhnyuk was unable to transfer money to Ukraine from his American Chase account.
And even before the start of the full scale, in January 2021, the American financial service Robinhood stopped opening from Ukrainian IRs. You may also have noticed that since the beginning of the full scale, many American sites block traffic from Ukraine, and you can only access them through a VPN.
Does anyone have any idea what is going on? This is not the kind of partnership that the country deserves, which restrains the influx of barbarians from the East to Western civilization, — Azhniuk noted.
The IMF plans to increase interest rates on loans for Ukraine
The International Monetary Fund plans to revise the fees to be paid by key recipients of loans, in particular, Ukraine.
The article emphasizes that a number of countries have already expressed concern about the unjustified increase in interest rates by the IMF.
At the same time, the IMF board is considering the option of granting benefits to countries that have to pay additional fees. Such fees have to be paid by countries that borrow more than their fair share of credit amounts or repay loans in longer terms. 70% of the votes of the board members are required to approve changes in the lender's policy.
It said the meeting will consider initial proposals for revising tariffs, and a final decision is not expected this week.
The article notes that global interest rate hikes by the US Federal Reserve System and the European Central Bank mean that the total interest rate on some IMF loans now exceeds 8%, double what it was before the Covid-19 pandemic.
For the most part, such expenses are borne by Argentina, Egypt and Ukraine and a number of other countries, the amount of additional IMF payments from which is up to 6 billion dollars in total.
