Banks in Vietnam and Kazakhstan have reportedly stopped servicing Mir playing cards after US sanctions menace

Monetary establishments in Kazakhstan and Vietnam have stopped accepting Russian Mir cost playing cards, Izvestia every day reported on Wednesday.

The knowledge was reportedly confirmed by the decision heart of the Vietnamese BIDV financial institution, which stated that it continues to service VISA, Mastercard, Western Union, JCB, UnionPay playing cards, however the Mir cost system is just not on their listing.

In keeping with the report, Kazakhstan’s largest financial institution Halyk Financial institution has additionally suspended transactions utilizing Mir playing cards at its terminals and ATMs. Nonetheless, the financial institution defined to Interfax that it had stopped servicing Mir in its ATM community in spring, and has not launched any new restrictions since then. Mir playing cards can be utilized to pay by POS-terminals serviced by the financial institution, it specified.

This week, a number of banks in Turkey introduced their choice to cease operations with Russian financial institution playing cards, following a warning from Washington that monetary establishments danger secondary sanctions if they assist Moscow bypass US penalties.

Final week, the US Treasury’s Workplace of International Property Management (OFAC) introduced that it was able to impose sanctions on any establishment outdoors Russia utilizing the nation’s cost system.

Mir was developed by the Central Financial institution of Russia as a home various to Visa and Mastercard after the primary spherical of sanctions was imposed on Moscow in 2014. For the reason that introduction of the brand new cost system, Russian banks have issued greater than 129 million Mir playing cards. They’ve been accepted in Turkey, Vietnam, Armenia, South Korea, Uzbekistan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, South Ossetia, and Abkhazia.

For extra tales on financial system & finance go to RT’s business section

You’ll be able to share this story on social media:


Please enter your comment!
Please enter your name here