Mir cards, the payment instrument from Russia, faced limitations in Armenia as banks began restricting their use in ATMs and point-of-sale terminals. Reports from RBC, citing a representative from VTB Armenia and a source within the Russian banking system, indicated that these restrictions would take effect from March 30 of the year the announcement was made. The news underscored that the interruption would affect most Armenian banks, with the notable exception of the VTB Bank of Armenia, a local subsidiary of the Russian lender.
The broadcasting clarified that basic Mir transactions would remain available through VTB Armenia. In particular, Mir cardholders could continue to withdraw cash at VTB ATMs in Armenia, and make payments via online banking and online purchases where Mir is accepted.
At the time, Mir cards were generally functional within Armenia and were accepted by several local banks, allowing continued use in everyday transactions for many cardholders.
Earlier in February, Freedom Finance, a Kazakh bank owned by Timur Turlov’s Freedom Holding, restricted transfers from Mir cards. Reports also indicated that Bereke Bank in Kazakhstan had halted Mir card servicing, with the suspension continuing into March.
These developments reflected broader shifts in how Mir cards were being received and processed across regional banking networks.
What remains clear is the evolving landscape for Mir in allied markets and neighboring regions, where institutions reassessed card acceptance and cross-border payment flows. This situation illustrates how geopolitical and regulatory changes can directly influence everyday financial transactions for millions of cardholders. (citation: RBC report and bank statements)
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