https://sputnikglobe.com/20220915/us-puts-pressure-on-turkish-banks-supporting-russian-payment-system-mir-reports-say-1100798287.html
US Puts Pressure on Turkish Banks Supporting Russian Payment System Mir, Reports Say
US Puts Pressure on Turkish Banks Supporting Russian Payment System Mir, Reports Say
Sputnik International
MOSCOW (Sputnik) - The United States is stepping up pressure on Turkish banks that accept payments made with Russia's Mir bank cards, the Financial Times... 15.09.2022, Sputnik International
2022-09-15T08:12+0000
2022-09-15T08:12+0000
2022-09-15T08:12+0000
russia's special operation in ukraine
mir payment system
turkiye
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The US is concerned that Turkey’s cooperation with Russia could help Moscow circumvent sanctions, according to Financial Times.Five of Turkey’s largest banks currently support the Mir payment system, with two of them connected after the start of Russia’s special military operation in Ukraine, the report said.In addition, the US is targeting individuals handling payments on behalf of Russians, as well as businesses that have helped set up parallel payment networks for Moscow, according to officials.The European Union is also concerned about Turkey's cooperation with Russia, in the financial sector in particular. The EU commissioner for financial services, Mairead McGuinness, intends to visit Turkey next month to directly discuss issues related to financial services and the implementation of sanctions.The CEO of Mir's operating company, Vladimir Komlev, said that there are currently no issues with the operation of Mir bank cards in Turkey.In 2014, Russia introduced the System for Transfer of Financial Messages — its proprietary financial transfer system for banks designed as an alternative to SWIFT — and the Mir payment system, a national system for credit and debit cards, on the heels of a sanctions campaign against the country at the time. Amid new restrictions this year, Russia negotiated acceptance of its Mir cards in several foreign countries, including Turkey and Vietnam.
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mir payment system, turkiye, banks, us
US Puts Pressure on Turkish Banks Supporting Russian Payment System Mir, Reports Say
MOSCOW (Sputnik) - The United States is stepping up pressure on Turkish banks that accept payments made with Russia's Mir bank cards, the Financial Times newspaper reported on Thursday, citing Western officials.
The US is concerned that Turkey’s cooperation with Russia could help Moscow circumvent sanctions, according to Financial Times.
Five of Turkey’s largest banks currently support the Mir payment system, with two of them connected after the start of Russia’s special military operation in Ukraine, the report said.
In addition, the US is targeting individuals handling payments on behalf of Russians, as well as businesses that have helped set up parallel payment networks for Moscow, according to officials.
"We’ll send a message very clearly that, for example, third-country financial institutions should not be interconnecting with the Mir payment network because, you know, that carries some sanctions- evasion risks," one official told Financial Times.
The European Union is also concerned about Turkey's cooperation with Russia, in the financial sector in particular. The EU commissioner for financial services, Mairead McGuinness, intends to visit Turkey next month to directly discuss issues related to financial services and the implementation of sanctions.
The CEO of Mir's operating company, Vladimir Komlev, said that there are currently no issues with the operation of Mir bank cards in Turkey.
In 2014, Russia introduced the System for Transfer of Financial Messages — its proprietary financial transfer system for banks designed as an alternative to SWIFT — and the
Mir payment system, a national system for credit and debit cards, on the heels of a sanctions campaign against the country at the time. Amid new restrictions this year, Russia negotiated acceptance of its Mir cards in several foreign countries, including Turkey and Vietnam.
