Peskov on Armenian Banks' Decision to Halt Service of Mir Cards

Russia's President Vladimir Putin's press secretary Dmitry Peskov stated that Russia and Armenia will continue to work on hedging risks and rectifying the situation in the banking sector, and discussions will continue.

He reiterated that many countries are facing unprecedented pressure from the United States, including threats of sanctions, secondary sanctions, and more. "Of course, economic institutions, companies, banks, and other financial establishments are taking measures. This does not mean that we are not continuing our work to hedge our own risks and rectify the situation with our Armenian friends. This is possible, and together with our Armenian partners, we will continue to explore discussions and compensation routes through which the Americans are applying this unprecedented pressure," Peskov told reporters.

Earlier, it was reported that the National Payment Card System (NPCS), the operator of the Mir payment system, received an official notification from Armenia's payment system on March 19 that as of March 30, 2024, ArCa participating banks will cease servicing Mir cards.