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Russian Mir payment system sanctioned. What Kyrgyz migrants are to do

The Russian Mir payment system fell under U.S. sanctions on February 23, but Kyrgyzstanis working in the neighboring country can use alternative ways for remittances. Deputy Chairman of the National Bank Mels Attokurov announced at a meeting of the Committee on Budget, Economic and Fiscal Policy of the Parliament.

«Many migrants from Kyrgyzstan live in Russia; citizens of the Russian Federation arrived in the Kyrgyz Republic. Will our payment systems work with them? Have the risks of secondary sanctions been assessed?» deputy Elvira Surabaldieva asked.

Mels Attokurov noted that the National Payment Card System Mir has been closed, but there are other international money transfer systems.

«Today there are alternative ways. You can transfer money through Zolotaya Korona; there are 2-3 other international companies. They can transfer money in Russia to Kyrgyzstan without opening correspondent accounts. In addition, there are commercial banks that also transfer directly on the basis of contractual relations with commercial banks of the Russian Federation, for example, Sberbank of Russia, Tinkoff,» Mels Attokulov said.