Legit.ng on Nostr: Armenian banks to ditch Russian cards over US sanctions ========== Armenian banks ...
Armenian banks to ditch Russian cards over US sanctions
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Armenian banks have announced that they will stop processing transactions made by Russian Mir payment cards due to Western sanctions imposed on Moscow for its invasion of Ukraine. The Union of Banks of Armenia stated that the country's commercial banks will cease servicing Mir cards due to the risk of secondary sanctions. However, an exception will be made for Mir cards issued by the Armenian subsidiary of Russia's state-controlled VTB Bank. This move comes as part of a series of diplomatic disputes between Armenia and Russia, with Yerevan drifting away from Moscow since 2020. Relations further soured when Azerbaijan took control of the disputed Nagorno-Karabakh region. In addition to blocking broadcasts of shows by Russian TV presenter Vladimir Solovyov, Armenia has suspended its participation in the Collective Security Treaty Organisation (CSTO) and has been seeking partnerships with Western countries. Armenia has also formally joined the International Criminal Court (ICC) and is obligated to arrest Russian President Vladimir Putin if he sets foot on Armenian territory under an ICC arrest warrant issued in March 2023.
#ArmenianBanks #RussianMirPaymentCards #UsSanctions #WesternSanctions #Moscow #InvasionOfUkraine #UnionOfBanksOfArmenia #SecondarySanctions #ArmenianSubsidiaryOfVtbBank #DiplomaticDisputes #Yerevan #Azerbaijan #NagornokarabakhRegion #VladimirSolovyov #CollectiveSecurityTreatyOrganisation(csto) #WesternPartnerships #InternationalCriminalCourt(icc) #ArrestWarrant #VladimirPutin
https://www.legit.ng/business-economy/economy/1585777-armenian-banks-ditch-russian-cards-sanctions/
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Armenian banks have announced that they will stop processing transactions made by Russian Mir payment cards due to Western sanctions imposed on Moscow for its invasion of Ukraine. The Union of Banks of Armenia stated that the country's commercial banks will cease servicing Mir cards due to the risk of secondary sanctions. However, an exception will be made for Mir cards issued by the Armenian subsidiary of Russia's state-controlled VTB Bank. This move comes as part of a series of diplomatic disputes between Armenia and Russia, with Yerevan drifting away from Moscow since 2020. Relations further soured when Azerbaijan took control of the disputed Nagorno-Karabakh region. In addition to blocking broadcasts of shows by Russian TV presenter Vladimir Solovyov, Armenia has suspended its participation in the Collective Security Treaty Organisation (CSTO) and has been seeking partnerships with Western countries. Armenia has also formally joined the International Criminal Court (ICC) and is obligated to arrest Russian President Vladimir Putin if he sets foot on Armenian territory under an ICC arrest warrant issued in March 2023.
#ArmenianBanks #RussianMirPaymentCards #UsSanctions #WesternSanctions #Moscow #InvasionOfUkraine #UnionOfBanksOfArmenia #SecondarySanctions #ArmenianSubsidiaryOfVtbBank #DiplomaticDisputes #Yerevan #Azerbaijan #NagornokarabakhRegion #VladimirSolovyov #CollectiveSecurityTreatyOrganisation(csto) #WesternPartnerships #InternationalCriminalCourt(icc) #ArrestWarrant #VladimirPutin
https://www.legit.ng/business-economy/economy/1585777-armenian-banks-ditch-russian-cards-sanctions/