September 28, 2023

South Sudan News Agency

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Putin-Erdogan meeting: Turkey introduces Russian Mir payment system

The new “road map” aimed at strengthening bilateral cooperation “will serve as a source of financial leverage between Turkey and Russia,” Erdogan told reporters on a flight from Sochi, where he met with the Russian president and the Turkish government. Anadolu news agency reported.

Five Turkish banks are currently working to expand the Russian Mir international payment system in the country, Erdogan confirmed, adding that it would make it easier for Russian tourists to visit Turkey.

As part of Western punitive measures following Russia’s military occupation of Ukraine, the largest Russian financial institutions were excluded from the SWIFT international banking payment system.

The aforementioned move by NATO member Turkey to strengthen Russian-Turkish trade clearly shows the country’s dependence on Russian energy resources and tourism. Most natural gas still comes to Turkey from Russia, and the country’s first nuclear power plant is being built as part of a Russian-Turkish joint investment. In the first half of 2022, after Germany, the largest number of tourists from Russia came to Turkey.

Cover image source: Getty Images

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