Denizbank suspends Russian payment system Mir

Following İşbank, Denizbank also announced that they suspended service in the Russian payment system Mir.

Following the US focus on Turkish banks involved in Russia's local payment system called Mir, Denizbank announced that they are currently unable to provide services in Mir. Yesterday, İşbank said, "We have seen the OFAC statements, we are evaluating them. We have suspended the Mir operation in this process."

STATEMENT FROM DENİZBANK

Following İşbank, Denizbank also announced yesterday evening that "We are currently unable to provide service." Last week, the media reported that the United States and the European Union (EU) were preparing to increase pressure on Turkey over sanctions imposed on Russia over its invasion of Ukraine, which began on February 24. Mir was developed by the Russian Central Bank as an alternative to Visa and Mastercard. Turkey's largest banks Vakıfbank, Ziraat Bank, İşbank, Denizbank and Halkbank are among the banks included in the Mir system. On the other hand, the Financial Times quoted VakıfBank as saying that it had seen reports that İşbank had decided to halt its Mir operations, but that there was no sudden change in its policies. Halkbank and Ziraat Bank have not yet responded to requests for comment. The report also quoted Western officials as saying that the US was focusing on Turkish banks involved in Russia's local payment system called Mir, while Brussels had formed a delegation to raise its concerns directly with Turkish officials. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!