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Turkiye President slams US warning to Turkish banks over using Russian MIR cards

September 23, 2022 at 3:38 pm

Russian Mir payment system logo on a bank card in Moscow on 14 March 2022 [AFP/Getty Images]

Turkish President, Recep Tayyip Erdogan, has denounced US warnings to impose sanctions on Turkish banks over using the Russian MIR transaction payment system, Anadolu Agency reported.

Speaking to reporters at the Turkish House in New York on Thursday, at the conclusion of his visit to the United States to participate in the 77th session of the United Nations General Assembly, Erdogan said, “this is not befitting friendship or our economic relations”, referring to the US warnings, pointing out that the sanctions will be evaluated by the relevant Turkish ministers and will be dealt with accordingly.

He added that the concerned authorities are currently discussing alternatives and that he will meet with them on Friday to take the final decision.

Last week, the US Treasury Department’s Office of Foreign Assets Control (OFAC) warned financial institutions against entering new agreements or expanding the existing ones with the Russian operator of MIR cards.

Turkiye has not implemented sanctions imposed on Russian institutions in response to Moscow’s invasion of Ukraine.

READ: US expects more banks will cut off Russian payment system MIR