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Russian Central Bank Chair Elvira Nabiullina Comments on "Mir" Card Servicing Abandonment in Several Countries

in Economy / Kyrgyzstan - by


During the presentation of the annual report of the Bank of Russia in the State Duma, Elvira Nabiullina addressed the issue of banks and payment systems of certain countries refusing to service "Mir" cards due to US Treasury sanctions. This includes not only countries far abroad but also formally friendly nations to Russia like Kyrgyzstan, Kazakhstan, and Uzbekistan.

Despite this, Nabiullina stated that dialogue with friendly countries continues to preserve and develop infrastructure, seeking alternative solutions. She highlighted the mutual interest in creating functional payment mechanisms for tourism flows and remittances from labor migrants, hinting at potential integration of platform solutions.

Regarding possible retaliatory measures, Nabiullina noted that restrictions and prohibitions are theoretically possible but should be considered as a last resort in relations with states not behaving constructively. This approach aims to encourage cooperation and the search for alternative mechanisms rather than escalating tensions.