Following the recently adopted sanctions against Russia, Moscow is leaving the US payment system. New Russian credit cards are very popular. This is also due to the fact that the label “Made in Russia” is trusted by the population.
Following the latest sanctions imposed by the USA on Russia, Moscau is planning to withdraw from the US payment system. The RIA news agency quoted the Deputy Foreign Minister Sergei Ryabkow: “We will, of course, intensify our work on import substitutes as well as reducing the dependency on the American payment system and the US Dollar as reserve currency. This is a crucial necessity.”
“Otherwise we would always walk on the leash of the United States.”
He also stressed that the US used their dominant role in the money and financial system to exert pressure on foreign businesses, including Russian companies.
After Washington had imposed sanctions against Moscow in 2014, the international MasterCard payment system terminated the cooperation with seven Russian banks without prior warning.
In response, Russia established a new national payment system to avoid further dependendence on the West. Washington is justifying the new sanctions with the alleged Russian interference in the US presidential elections last year. Initially, sanctions were justified with Moscow’s conduct in the Ukraine conflict.
The new Russian payment system is referred to as “Mir”, which translates “world” or “peace” in English. The Mir cards are advertised with the following slogan:
“Your card is free of external influences. Created in Russia “
So far, 13.9 million Mir cards have been issued in Russia. They are distributed by the Russian national system for card payments “NSPK” which belongs to the National Bank.