Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Netanyahu: If Lebanese Army takes steps to disarm Hezbollah, Israel will engage in reciprocal measures, including phased reduction of Israeli military presence in Lebanon
Al Mayadeen's correspondent: Photojournalist Houssam Al-Masri martyred, reporters Hatem Omar, Mohammad Ashraf Salameh injured in Israeli strike on Nasser Medical Complex.
Israeli media: Intense US efforts are being made to resolve differences, such as the issue of the Israeli presence on Mount Hermon and in southern Syria
Israeli media: The security agreement means amending the disengagement agreement, which will also address the Druze issue
Israeli media: Attempts to reach a security agreement between 'Israel' and Syria were among the topics discussed at the Paris meeting
Israeli media: Sheikh Muwaffaq Tarif rejected a US proposal to join the recent tripartite meeting between Tom Barrack, al-Shaibani, and Dermer
Saba News Agency: Two martyred, five injured in a preliminary toll of the Israeli aggression on the Yemeni Oil Company station on Al-Sitteen Street in Sanaa
Senior Yemeni military source to Al Mayadeen: We observed a state of confusion among the enemy's aircraft squadron after Yemeni air defenses intercepted the attack
Senior Yemeni military source to Al Mayadeen: The Yemeni air defense forces succeeded in neutralizing a squadron of enemy aircraft and prevented airstrikes on some governorates
Senior Yemeni military source to Al Mayadeen: Our air defenses and missile forces forced a formation of enemy aircraft to flee the airspace

Sri Lanka to join Russia's Mir system, resumes flights to Russia

  • By Al Mayadeen English
  • Source: Agencies
  • 17 Sep 2022 08:41
4 Min Read

Economically crippled Sri Lanka seeks to join the Mir card system, which relieves it from the West's exploitative economic payment system that played a role in ruining its economy.

  • x
  • Mir cards.
    Russia's Mir cards.

The Sri Lankan government is discussing with Russia the possibility of joining its MIR payment system, with the discussion being underway between the Central banks as revealed by Sri Lankan Minister of Transport and Highways, and Minister of Mass Media Bandula Gunawardena, to Sputnik. 

"Yes, yes, our embassy tried to do that because you want to [have] easy payment system... We will try to do that, we can get Central Bank's approval. After that it will be a success," Gunawardena said, upon being asked whether the payment system will be launched in Sri Lanka. 

In addition, discussions are underway between the Central Banks of Moscow and Colombo, he announced, adding that Colombo must obtain the approval of the central banks, noting that the Sri Lankan authorities would be pleased to know that Russian tourists could pay by card while visiting the country. 

Last February, Russian banks were excluded from the SWIFT interbank payment system by the decision of the European Commission and its allies. The maneuver was intended to hit the country's banking network and its access to funds via SWIFT, which is pivotal for the smooth transaction of money worldwide. Visa and Mastercard bank cards issued in Russia are no longer in effect and don't allow users to pay for goods and services outside Russia. 

Read more: Russia moves from SWIFT to more secure mechanisms: Official

Mir cards are currently in function in 10 foreign countries: Turkey, Vietnam, Armenia, Uzbekistan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, South Ossetia, and Abkhazia. The card can be used to deposit and withdraw cash and pay for purchases. 

Attempts to isolate Russia have driven the economic power to seek alternative deals and agreements with countries particularly suffering from the US- and West-led sanctions. 

Related News

World biggest economies looking for USD alternatives

Iran, Russia strengthen ties through food, carpets, banking & more

Read more: India, Russia discussing accepting each other's payment systems

Furthermore, Colombo plans to restore flights with Moscow by mid-October, announced Gunawardena. 

"First, we will try to restart [flights from] Moscow to Colombo [and back]. After that - St. Petersburg," Gunawardena said, adding that the flights are expected to resume by mid-October this year.

Gunawardena added that flights between other cities may also appear later.

An airplane from Sri Lanka to Russia which was expected to leave on June 2 was canceled due to lack of authorization from Sri Lankan aviation authorities. Russia, in response, handed a note of protest to the Sri Lankan ambassador in Moscow.

IMF playing 'economic hitman' 

While Sri Lanka has been overpowered with months of lack of food, fuel, and medicine, extended power cuts, and inflation following a foreign exchange crisis that left importers unable to pay for vital goods, the International Monetary Fund (IMF) comes to the 'rescue' with a disastrous condition which would leave the country further bankrupt.

The International Monetary Fund (IMF) board will need to agree on a staff agreement, which depends on Sri Lanka finalizing a deal to restructure its $51 billion in foreign debt with creditors. The IMF has set a $2.9 billion bailout amount for the revival of the country's economy. 

In early 2022, Sri Lanka stopped paying its foreign bondholders, along with a crippling inflation problem that has raised the cost of food and fuel, sending the country into political chaos. 

Read more: US eyes Sri Lanka crisis with twisted excitement - Global Times

  • Sri Lanka
  • Russia
  • Mir banking cards

Most Read

Tom Artiom Alexandrovich, executive director of the defense division of the Israeli National Cyber Directorate, undated (Social media)

Israeli-born US prosecutor drops Israeli officer child sex crime

  • Politics
  • 19 Aug 2025
Displaced Palestinians walk through a makeshift camp along the beach in Gaza City, Sunday, Aug. 10, 2025 (AP)

Hamas, other factions accept Egypt-Qatar ceasefire proposal: Exclusive

  • Politics
  • 18 Aug 2025
Palestine will not be liberated by UN reports, but by pursuing a different strategic horizon: one that does not beg for recognition. (Al Mayadeen English; Illustrated by Batoul Chamas)

Economy of Genocide: Albanese's report accuses, but doesn't dismantle system

  • Opinion
  • 18 Aug 2025
Israeli soldiers stand on the top of armoured vehicles parked on an area near the Israeli-Gaza border, as seen from southern Israel, Wednesday, Aug. 20, 2025 (AP)

Palestinian fighters target Israeli soldiers, vehicles in Gaza

  • Politics
  • 21 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Israeli Prime Minister Benjamin Netanyahu speaks during a press conference at the Prime minister's office in al-Quds, Occupied Palestine, Sunday, Aug. 10, 2025 (AP)
Politics

Netanyahu deliberately derailing truce with Gaza occupation: Hamas

Irish President Michael Higgins arrives to deliver his speech during a 42nd World Food Day celebration at FAO headquarters in Rome, on Oct. 16, 2023. (AP Photo/Alessandra Tarantino)
Politics

Irish president renews call for UN military intervention in Gaza

US Ambassador to Turkey and Special Envoy to Syria Tom Barrack speaks during an interview with The Associated Press at the US Embassy in Aukar, northern suburb of Beirut, Lebanon, Monday, July 21, 2025 (AP)
Politics

US envoy, Netanyahu discuss restraining attacks on Lebanon, withdrawal

Smoke billows following Israeli airstrikes in multiple areas in Sanaa, Yemen, Sunday, Aug. 24, 2025 (AP)
Politics

Ansar Allah vow sustained Gaza support despite Israeli strikes

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS