The largest private bank in Turkey – İş Bank – has decided to refuse cooperation with the Russian payment system "Mir" in the framework of the implementation of US sanctions. This is reported by the agency with reference to the statement of the bank. Later, the Russian agency RIA Novostireported that another of the largest banks in Turkey, DenizBank, had taken similar measures.
The message of İş Bank says that the credit institution does not intend to take risks and evade the implementation of sanctions. The bank plans to conduct its activities "in accordance with national and international laws, rules and principles of commercial activity," Reuters notes.
The public refusal to cooperate with the Russian payment system came just 4 days after the publication of information that the European Union and the United States were dissatisfied with Turkey's desire to increase the level of cooperation with Russia. In particular, they talked about the Mir payment system – Western countries fear that it can be used to circumvent financial sanctions.
Russia probably staked on financial cooperation with Turkey. During a recent visit by President Recep Tayyip Erdogan, Russian President Vladimir Putin announced an agreement to expand the payment infrastructure of the Russian Mir card in Turkey, according to him, this should have made life easier for Russian tourists.
US and European authorities have previously warned the five largest banks about the risks of cooperation and assistance in circumventing sanctions, including: VakıfBank, Ziraat Bank, İş Bank, DenizBank and Halkbank. Representatives of Western countries intend to tighten enforcement of the sanctions regime in the coming months and threaten to impose secondary sanctions on individuals who help Russia bypass them.