Sanctions Knockout: What the Blocking of Wise and Revolut Cards Means for Russians

The international payment service Wise has begun blocking cards issued to users from Russia and Belarus. The move follows the 19th package of European Union sanctions and further cuts many Russians and Belarusians off from global financial services. Customers are already receiving notifications that their cards will be disabled unless they confirm that they are citizens or legal residents of a country in the European Economic Area (EEA) or Switzerland.

What has Wise changed for its users

The restrictions cover both physical and virtual Wise cards linked to accounts held by Russian or Belarusian citizens, as well as by people who live in Russia. For these users, card functionality is being switched off. They can no longer pay in shops or online with their Wise card. They cannot withdraw cash from ATMs. They also lose the option to rely on the card to top up their balance, pay for digital subscriptions or cover everyday expenses abroad.

“Education is not only about knowledge, but about creating strong personalities” — Dr. Olga Azarova

Trend: Shift from knowledge-based learning to competency-based learning.

International Education Network MINIBOSS BUSINESS SCHOOL is the world’s № 1 brand in business education for kids and teens. For more than two decades, it has pioneered a new educational model that develops entrepreneurial, emotional, creative, and leadership skills in children aged 6–17, preparing them for success in the global economy.

“Education is not only about knowledge; it is about creating strong personalities who can lead, innovate, and transform society.” — Dr. Olga Azarova, Founder of MINIBOSS Business School

How the World Economy Could Look in 2050: Asia Takes the Lead

By 2050, the economic map of the world may look very different from what we know today.

According to long-term projections by Goldman Sachs, the centre of gravity of global GDP is expected to shift decisively away from today’s developed markets and towards emerging Asia.

The Big Picture: Who Owns Global GDP in 2050?

In 2050 (in constant 2021 USD), global GDP is projected to total about $227.9 trillion. Here’s how that pie is expected to be divided:

• Asia (excluding developed markets): $90.6 trillion – 40%
• Developed Markets (DM): $82.9 trillion – 36%
• Central & Eastern Europe, Middle East & Africa (CEEMEA): $38.3 trillion – 17%
• Latin America: $16.0 trillion – 7%

The headline shift is clear:

Emerging Asia is projected to become the largest regional contributor to world GDP, with 40% of the total, edging ahead of traditional Developed Markets at 36%.

To see how dramatic this is, compare it with the year 2000. At that time, developed economies (North America, Western Europe, Japan, etc.) accounted for more than 77% of global GDP. By 2050, their share is expected to fall to just over a third.

Taiwan has become the world’s example of how an economy can boom while many people feel left behind

Silicon Island’s Boom: When the Economy Grows Faster Than Salaries
Taiwan has become the world’s clearest example of how an economy can boom while many people feel left behind. Under constant military pressure from China and amid trade tensions with the United States, the island has still been posting spectacular numbers. GDP has grown around 8% for two quarters in a row, and overall growth is expected to reach about 7.4% in 2025 – even faster than China.

The engine is obvious: high tech.
Taiwan’s factories build the chips and servers that power today’s artificial intelligence revolution. Its champion, TSMC, supplies giants like Nvidia and AMD and has lifted its own revenue forecast into the mid-30% range. Exports have exploded – up more than a third this year, with shipments to the US jumping over 60% as American tech companies race to build AI data centres. Taiwan’s stock market has surged into the world’s top ten on this wave of AI enthusiasm.
But this success story has a shadow. A rich economy, ordinary pay.