Spokesman Dmitry Peskov: "Turkish Banks Stopped Using Mir"

The Kremlin announced that Turkish state-owned banks have stopped using the Mir payment system.

Kremlin spokesman Dmitry Peskov said that Turkish state-owned banks have stopped using the Russian payment system Mir due to pressure from the United States and threats of secondary sanctions. Banks in several countries, including Turkey, Vietnam and Kazakhstan, have recently announced that they have stopped supporting the use of the Mir system. Mir had emerged as Russia's alternative payment system after Visa and Mastercard suspended their Russian operations and cards in Russia stopped working. (Following Russia's war in Ukraine, several Russian banks were excluded from international payment systems such as MasterCard, Visa and SWIFT, and Russia continued with its own Mir payment system.) In Turkey, İşbank, Denizbank, Ziraat Bank, Vakıfbank and Halkbank started to use the Mir system, but after pressure from the US, first private banks and then public banks announced that they were leaving this system. Last week, a meeting was held between President Recep Tayyip Erdoğan and Treasury Minister Nureddin Nebati to discuss an alternative payment system to Mir. 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!

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