Erdogan: Turkey looks for alternatives to Mir payment system


September 23, Fineko/ Turkey is looking for alternatives to using the Mir payment system, Turkish President Recep Tayyip Erdogan is quoted by Bloomberg.

Earlier, Turkish Isbank and DenizBank announced the suspension of accepting Mir cards in connection with a warning from the Office of Foreign Assets Control of the U.S. Treasury Department (OFAC). Prior to that, Vietnamese bank BIDV stopped carrying out operations on Mir cards.

On 15 September, OFAC published an explanation according to which non-US financial institutions, concluding agreements with the Russian NSPK, risk being involved in actions to circumvent US sanctions by expanding the territory of the Mir payment system outside the Russian Federation.