Turkey’s Deniz Bank and İş Bank have announced that they have suspended the use of Russia’s Mir payment system after the U.S. cracked down on those accused of helping Moscow evade sanctions imposed in connection with the war in Ukraine.
The moves come after Washington last week expanded the scope of its sanctions to include the head of the organization that runs the Mir system, which has been visited by tens of thousands of Russian tourists who have come to Turkey this year.
The suspension of two of the five Turkish banks that used the Mir system reflects their efforts to avoid being swayed by the financial battle between the West and Russia as the Turkish government takes a prudent diplomatic stance.
Ash Bank, whose shares fell 10% on Monday, said it had stopped using the MIR payment system and was considering new US Treasury sanctions. He also said that he is committed to complying with national and international laws and regulations, as well as business principles.
In response to a request for comment, Deniz Bank said, “We are currently unable to provide the service,” referring to “Mir.” Earlier on Monday, the bank said it was “operating in accordance with international sanctions regulations.”
Source: El Iktisad
