Türkiye may create new bank to work with Russia’s “Mir” payment system

Director of the Russian-Turkish Business Council (RTBC), Alexei Yegarmin, has said that Türkiye is likely to create a new bank or settlement centre to work with cards of the Russian payment system “Mir”.

The Turkish side is already considering several alternatives for conducting financial transactions with the “Mir” system, including the creation of a bank that will not depend on sanctions pressure from the US and the EU, Izvestiya reports.

Yegarmin suggested that it could be a special bank or a special system based on blockchain settlements or closed clearing.

He also added that despite the hype raised by the media, Russians freely withdraw funds from ATMs of Ziraat Bank, but with a limit of limit - 1,500 Turkish liras ($81).