One of the largest banks in Turkey stops working with Russian Mir cards

Published by
Peter Kavinsky

Turkish bank İş Bankası, one of the country’s largest, suspends services to Russian payment system Mir after US sanctions warnings

According to Ukrinform, this is reported by Bloomberg.

“The largest private bank in Turkey, İş Bankası, has suspended work with the Mir payment system, which is popular among Russian tourists,” the report says.

In a Bloomberg commentary, bank representatives said they were aware of the US Treasury Department statement about Russia’s Mir system and have suspended its service.

The decision came after the US Treasury Department’s Office of Foreign Assets Control (OFAC) announced last week that it was willing to impose sanctions on those who facilitate the use of Russia’s Mir payment system outside the Russian Federation.

Also read: Swiss parliament calls on all Russian banks to disconnect from SWIFT

The publication reminds that the president Turkey Erdogan, after meeting with Putin on Aug. 5, said that the Mir system contributes to the development of tourism between the two countries.

The Mir payment system was developed in Russia as an alternative to Visa and Mastercard. Until recently, Vakıfbank, Ziraat Bankası, İş Bankası, Denizbank and Halkbank, which are among the largest banks in the country, cooperated with it in Turkey.

Photo: AA

Peter Kavinsky

Peter Kavinsky is the Executive Editor at cablefreetv.org

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