Two Turkish Banks Succumb to US Threat of Sanctions

19 Sep, 2022 16:52

Turkish banks suspend use of Russian payment system

The decision follows the threat of sanctions from Washington
Turkish banks suspend use of Russian payment system

Turkey’s Isbank and Denizbank announced on Monday that they have halted the use of Russia’s Mir payment system following a warning from Washington that financial institutions risk secondary sanctions if they help Moscow bypass US penalties. The banks confirmed their decision to Russia’s RIA Novosti news agency.

Isbank also explained to Bloomberg that its decision follows the US Treasury’s statement on the subject.

Last week, the US Treasury’s Office of Foreign Assets Control (OFAC) announced that it was ready to impose sanctions on any institution outside Russia using the country’s payment system. Later, sources told the Financial Times of the US and EU’s intention of putting pressure on Turkish banks, to prevent them from helping Moscow “bypass the sanctions.”

Turkish banks joined the Mir payment network in early August, allowing Russian tourists to pay for their purchases in the country.

Mir was developed by the Central Bank of Russia as a domestic alternative to Visa and Mastercard after the first round of sanctions was imposed on Moscow in 2014. Since the introduction of the new payment system, Russian banks have issued more than 129 million Mir cards. They are currently accepted in Turkey, Vietnam, Armenia, South Korea, Uzbekistan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, South Ossetia, and Abkhazia.

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6 Responses to “Two Turkish Banks Succumb to US Threat of Sanctions”

  1. newensign says:

    Of course Danceaway the so-called Turkish Banks are no more Turkish than the Bank of England is English, both are owned by The City of London banking cartel headed up by the Rothschilds. Saying its the USA bringing pressure is just a smoke screen to prevent people from knowing where the real power!!! lies!

  2. danceaway says:

    Thank you for pointing that out, newensign. Since they had been cooperating with the Russian Mir card I hoped this indicated some degree of independence, but I was wrong!

    I wonder how Alexander Mercouris will interpret this in light of the increasing trade links between Turkey and Russia. He does not speak a great deal of the controllers of financial matters, does he?

    • newensign says:

      Yes Danceaway – its the Golden Rule – He who has the Gold Rules!. I can understand why Alex M does not see it, because the money control is so well hidden and the nature of it in its use to manipulate most countries and large corporations.. Did you see the link on the German government in your earlier post in my comment?

      • danceaway says:

        I think I missed it, newensign. I’ll go back and look for it.

      • Tapestry says:

        Anthony Mercouris couldn’t act as a historian working in the conventional way he does if he subscribed to notions like banking cabals controlling all governments. The Russian retreats in Ukraine seem most unwise and unnecessary – Mercouris says the Russians are following the Von Clausewitz strategy of defeating the enemy’s forces and not worrying about controlling territory per se. Yet Russia could deploy overwhelming force and hold all the territory occupied. The jury is still out.

  3. pete fairhurst says:

    My last comment is on that vid by Alex which has no title? Hence no link for my comment. How does that work, is it spooks?