RTDS announced Turkey's proposal to create a separate bank for Mir cards

As an alternative to accepting Russian Mir cards, Turkey has also proposed the creation of a special system based on blockchain settlements or private clearing,said the head of RTDS

Turkey, as an alternative to working with cards of the Mir payment system, offered Russia the creation of a separate bank. This was announced to Izvestia by the director of the Russian-Turkish Business Council (RTBC) Alexei Egarmin.

According to the head of the RTDS, the Turkish side has proposed a number of alternatives for conducting financial transactions with Mir cards, one of them is the creation of a new bank that will not depend on sanctions pressure from the US and the EU. There is the position of corporations, and there is the official position of Ankara, Yegarmin stressed.

“Perhaps it will be a special bank or a special system based on blockchain settlements or closed clearing. Perhaps - a separate center for calculations. We are looking for and will present in the coming days - this is the position of Turkey, ”the director of the RTDS emphasized.

See also The United States announced the risks of sanctions for foreign banks due to Mir cards 00:50

At the same time, according to Egarmin, Russia had enough time to switch to more modern secure platforms for making payments, including those based on cryptocurrency. Now it is necessary to work on the development of a more secure and protected from external influence payment mechanism, he concluded.

Mir cards abroad almost stopped working. What are the alternatives Finance

In mid-September, the US Treasury threatened foreign banks with secondary sanctions for cooperation with the Russian payment system Mir. Since then, many foreign credit institutions, including Turkish ones, have suspended accepting these cards.

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On September 28, the Turkish NTV channel announced the refusal of three Turkish state-owned banks at once (we can talk about Ziraat Bank, Vakifbank and Halkbank) to work with Mir cards. Prior to this, two large private banks in the country, Isbank and Denizbank, stopped using such cards. The first reported that their decision was influenced by a warning from the US Treasury to financial institutions.

According to Reuters, Turkish President Recep Tayyip Erdogan held a meeting to discuss the situation and possible sanctions from Western countries. He later stated that he would discuss alternatives for the Mir payment system with the government.

NSPK CEO Vladimir Komlev is under American sanctions, but they do not yet apply to the payment system itself. The WSJ reported yesterday that the US plans to include the NSPK and the Russian Deposit Insurance Agency in a new package of sanctions.