Tuesday, October 4, 2022

Erdogan wants alternatives to the Russian payment system Mir

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Because of possible penalties

Erdogan wants to explore alternatives to the Russian payment system Mir

Against the background of possible penalties, Turkey wants to consider alternatives to the Russian payment system Mir. Turkish President Recep Tayyip Erdogan announced on Thursday that a decision should be made on Friday.

Turkish President Recep Tayyip Erdogan is examining alternatives to the Russian payment system Mir. (archive image)

“We now have to think about what we can do (…), what alternatives there are,” said Erdogan, according to the state news agency Anadolu, when asked whether Turkey was risking sanctions.

The US Treasury Department recently warned of penalties for circumventing financial sanctions imposed on Russia through the Mir system. So far, five state-owned Turkish banks have used the system. A few days ago, according to media reports, two of them stopped using them as a result of the US warning.

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