Russia’s Mir Card Expansion and BRICS Currency Discussions Highlight Regional Financial Ties
Ethiopia has signaled it does not foresee obstacles if the Russian Mir payment system is introduced in the future. The assurance came through statements by Cham Ugala Uriat, Ethiopia’s ambassador to Russia, as reported by TASS. Uriat noted a potential path forward tied to Ethiopia’s anticipated BRICS membership, suggesting that a shift to national currencies for transactions within BRICS could pave the way for Mir to operate in Ethiopia without issues.
Uriat commented on recent BRICS deliberations in South Africa, where members agreed to conduct certain transactions using national currencies. He explained that these developments could make the Mir system more compatible with Ethiopia’s financial framework when broader integration is possible. The diplomat stressed that the move would be feasible once there is alignment with the BRICS process and currency arrangements, indicating a hopeful timeline for implementation that avoids practical barriers.
Earlier remarks from Andrei Rudenko, deputy minister of foreign affairs of the Russian Federation, came at the Eastern Economic Forum. He indicated that Moscow is examining the introduction of Russian Mir cards to India, China, and other Southeast Asian partners. Rudenko added that Thailand is actively discussing a rollout, with central banks playing a central role in the talks. This signals a broader strategy to extend Mir acceptance beyond its current footprint, though concrete timelines remain fluid.
Presently, Mir cards are accepted in a range of regions beyond Russia, including Cuba, Abkhazia, Armenia, Belarus, Venezuela, Vietnam, Kazakhstan, Kyrgyzstan, Tajikistan, South Korea, and South Ossetia. Analysts note that ongoing discussions with financial authorities across these areas underscore a broader push to normalize cross-border card payments in diversified markets.
Formerly, a Kazakh political analyst advocated allowing local banks to service Mir cards, reflecting a broader regional interest in expanding the card network’s reach and the potential for increased financial integration among former Soviet and allied economies. This perspective aligns with ongoing efforts to diversify payment ecosystems and reduce dependence on a single international system, suggesting that Mir’s expansion could be part of a broader strategy to foster regional financial resilience and economic cooperation.