Five Banks adopt Russia’s Mir payments system, says Turkish president
Category: #business  By Pranali Mehta  Date: 2022-08-08
  • share
  • Twitter
  • Facebook
  • LinkedIn
Five Banks adopt Russia’s Mir payments system, says Turkish president

Türkiye president Recep Tayyip Erdogan recently had a meeting with Russia’s Vladimir Putin in Sochi earlier this week wherein he announced that five Turkish banks had adopted Mir (Russia's payment system).

According to credible sources, the meeting took place in Sochi's Black Sea resort. Speaking on the move, President Erdogan said there have been severe developments considering Turkey's work on Russia's Mir card. He assured that this move would offer relief to Turkey as well as Russian tourists.

Erdogan mentioned that the Russian payment would be a source offering financial backing to both Turkey as well as Russia.

Meanwhile, during the visit, the central bank governor of both nations also met.

It is vital to mention that Turkiye has opposed Russia's invasion of Ukraine; however, it did not ally with the US and Europe to be a part of the sanctions.

Notably, it has also been importing energy from Russia. In 2021, Turkiye obtained 45% of its natural gas deliveries and one-fourth of its crude-oil imports from Russia.

Reportedly, Russia also backed Turkiye when it required foreign-exchange liquidity for completing a nuclear power plant called Akkuyu nuclear plant that is being constructed on the Mediterranean coast.

The plant has become the center of dispute following the removal of a leading Turkish commentator by Russia's state-run Rosatom. Sources cite that the  Turkish President will soon be visiting the plant.

Erdogan said that any nation would not accept a delay in the plant's completion. He added that Turkish ministries are attempting to establish an agreement to sanction Russian grain exports as several hundred ships are stuck up in the Black Sea's ports.

For the record, on August 1, Ukraine sent its first grain shipment since the Russian invasion, and three other shipments left ports in Ukraine last week.

Source credit - https://www.news18.com/news/world/five-major-turkiye-banks-to-adopt-russian-payments-system-5708467.html

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

Read More >>

More News By Pranali Mehta

Neuralink to do trials for brain implants in human post FDA approval
Neuralink to do trials for brain implants in human post FDA approval
By Pranali Mehta

Neuralink Corp., a Elon Musk founded neurotechnology company, has reportedly obtained clearance from the US Food & Drug Administration (FDA) to proceed with its first clinical study involving humans. The approval is a significant leap forward ...

House of Lithium acquires EU micromobility startup Reby for USD 100M
House of Lithium acquires EU micromobility startup Reby for USD 100M
By Pranali Mehta

Canadian private equity firm House of Lithium has reportedly acquired Reby. The company was already a significant shareholder in the micromobility startup. The acquisition transaction was valued at USD 100 million. In a statement, Kevin Taylor, th...

Meesho to slash 251 jobs in new round of layoffs at its core unit
Meesho to slash 251 jobs in new round of layoffs at its core unit
By Pranali Mehta

Indian unicorn Meesho, an eCommerce platform, has recently confirmed a second round of layoffs within one year. This time it will terminate around 15% of its personnel, which is 251 employees, according to a spokesperson. Backed by Softbank and he...