Türkiye, Russia discuss using Turkish “Troy” payment system as alternative to Russian “Mir”

Ankara and Moscow are discussing the possibility of using the Turkish payment system “Troy” as an alternative to the Russian “Mir”.

The central banks of the two countries are holding scheduled talks on energy payments, the use of national currencies, the protection of the financial systems of the two countries from sanctions and, possibly, the creation of a SWAP line, Gazeta.Ru reports, citing Turkish media. 

The head of the Central Bank of Türkiye, Sahap Kavcioglu, who thinks that trade between states should be carried out in national currencies, also showed interest in this direction.

Russian financial institutions not subject to US sanctions will be able to connect to the Troy payment system with the permission of the Central Bank of Russia or if they open an account with Turkish banks operating in Russia and receive a card integrated with Troy. Russian tourists can make purchases on these cards in Türkiye.