Russia’s Mir forced into retreat
Banks and payment systems across much of Asia have been disconnecting from Russia’s Mir payment card system as the US threatens sanctions.
The US Treasury Department issued a warning against associating with Mir on September 15 and sanctioned its parent company’s CEO.
On September 30, the US Treasury added the governor of the Bank of Russia, Elvira Nabiullina, and her first deputy, Olga Skorobogatova to its sanctions lists.
Skorobogatova, the US notes, “is responsible for the oversight of
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Payments
Mir card system to operate across Cuba
Russian payments network continues gradual progress in Latin America
Central banks of Korea and Italy boost co-operation on payment systems
Bank of Korea and Bank of Italy to exchange knowledge on RTGS and CBDC
Argentine central bank delays payments regulation
Online payments firm had complained rule was anti-competitive
Singapore, Malaysia and Indonesia launch cross-border payment links
Indonesia and Singapore say they intend to set up local currency settlement framework in 2024
Chinese regulators grant Mastercard bank card licence
PBoC gives US firm approval to issue yuan-denominated cards after Xi-Biden meeting
US cash usage may have hit its floor, says Boston Fed
Consumers prefer credit cards, the top payment method in 2022, for online payments
CFPB proposes supervising large non-bank payment firms
Regulator says this is a part of a larger programme to monitor big tech
All Cuban businesses must offer electronic payments, says ministry
New rule is part of government’s response to ‘critical’ shortage of cash