This is a Loss for Armenia: Anatoly Aksakov

The decision of Armenian banks to discontinue operations with the Mir payment system will be a loss for Armenia and its residents. This opinion was expressed to TASS by Anatoly Aksakov, head of the State Duma's Committee on Financial Markets.

"All this is happening clearly under American pressure. Of course, this is a loss for Armenia because many residents of Armenia and Russian citizens who often visit there, including Armenians, utilize the Mir card. In fact, there are more drawbacks for Armenia, while for Russia it’s good—they will not accept it and will not make transactions. They are creating problems for themselves. I am sure a solution will be found," said Aksakov.

Aksakov noted that it is possible for Russia to use digital financial assets. "We have adopted a law on the possibility of using digital financial assets for international payments. And now this process will gradually develop," Aksakov stated.

Moreover, Aksakov believes that such a decision by Armenian banks is a "good signal for a speedy transition to the use of the digital ruble, for example, in mutual settlements within Armenia." He added, "In addition, China, India, Mongolia, and all post-Soviet countries that are part of the CIS, except for Ukraine, accept the ruble, and payments are proceeding normally."

It was previously reported that starting March 30, cards of the Russian Mir payment system will cease to operate in the ATMs and POS terminals of most banks in Armenia. The Central Bank has provided clarifications regarding the circulation of Mir cards.