Egypt Likely to Accept Russian Mir Payment System in Near Future - Reports
© Sputnik / Ramil SitdikovThe girl pays with a card of the Russian national payment system "Mir"
© Sputnik / Ramil Sitdikov
CAIRO, (Sputnik) - The Russian Mir payment system could start working in Egypt in the coming days, the Al-Shorouk newspaper reports citing sources.
The introduction of the Mir system and the start of transactions with Russian rubles in Egyptian banks and tourist resorts will begin in the coming days, sources in the tourism and economy sectors told Al-Shorouk on Saturday.
The decision on ruble transactions was not influenced by Turkey’s suspension of Russia’s Mir payment system due to possible US sanctions, the sources specified.
Russian tourists in Turkey had used Mir as an alternative to Visa and Mastercard, which suspended operations in Russia in March, after Moscow launched its military operation in Ukraine in February. The holders of Visa and Mastercard bank cards issued in Russia can no longer pay for goods and services outside Russia.
Russian Ambassador to Egypt Georgy Borisenko said in September that Moscow was in talks with the Central Bank of Egypt on the possible use of Mir cards. The Bank of Russia developed its own payment system called Mir in 2015, amid Western sanctions pressure.
Last week, Turkey's Ziraat Bank, Isbank and DenizBank abandoned the use of the Russian Mir payment system. Kremlin spokesman Dmitry Peskov said that the Turkish banks made the decision under "unprecedented" pressure from the United States and amid Washington's threats of imposing secondary sanctions against Ankara.
On September 15, the US Treasury said that sanctions would be applied against financial institutions supporting the Mir payment network outside Russia.