Vigen Enokyan, head of the Armenian representative office of the Russian Export Center, stressed that banks refusing to service Mir payment system cards will not derail Russian-Armenian trade. His assessment, relayed by TASS, underscores how trade flows can adapt even when certain payment channels face disruption. He argues that bilateral commerce has intrinsic redundancy, with firms routinely turning to alternative instruments when a preferred method becomes unavailable. This resilience helps maintain continuity in exports and imports between the two economies, particularly for goods and services that rely on established supply chains rather than on a single payment route.
The deactivation of the World card in Armenia is expected to generate some social unease among tourists and the general public. Still, Enokyan remains confident that activities tied to foreign economic relations that involve cross-border payments will not be disrupted. In his view, export and import operations typically rely on a mix of financial channels that can bridge gaps created by sanctions or payment-system changes. Firms often deploy a combination of corporate accounts, international transfers, and other services to ensure timely settlement with counterparties abroad. This flexibility reduces exposure to any single card network and supports ongoing commercial relationships despite shifts in the payments landscape.
Armenian banks participating in the national payment system, Armenian Card, halted support for Mir cards as of March 30 due to fears of falling under new sanctions. This move reflects a precautionary approach by banks that seek to mitigate risk while preserving access to international banking rails for their clients. For many businesses, the adjustment means rerouting payments through alternative networks or leveraging correspondent banking relationships to maintain the flow of funds. The cancellation of Mir operations within Armenia aligns with broader regional responses to sanctions regimes and demonstrates how financial infrastructure adapts under geopolitical pressure.
Earlier, Mir card operations were also halted by a major Kazakh bank, illustrating that the impact of these sanctions can ripple across neighboring markets. In such an environment, companies in Armenia and their international partners often pivot quickly, leveraging established relationships with banks that remain active in cross-border settlements. The ability to switch to other payment solutions, such as international transfers, corporate accounts, and multi-currency services, becomes a critical advantage. This adaptability helps preserve the momentum of trade flows, even as specific card networks face limitations or are phased out in certain jurisdictions.
Experts note that while consumer confidence among tourists can waver in the short term, the operational side of foreign trade tends to endure. Importers and exporters typically structure settlements to avoid overreliance on a single platform, diversify counterparties, and maintain liquidity through multiple channels. In this context, Armenian businesses are not merely reacting to sanctions; they are building more versatile payment architectures. By combining local payment rails with international transfer systems, they can continue to finance shipments, settle invoices, and manage working capital efficiently. This strategic posture helps sustain bilateral trade between Armenia and Russia despite the evolving sanctions environment, ensuring that essential supply chains remain intact for goods and services that sustain both economies.