According to reliable sources cited by the Egyptian publication “Al-Shorouk,” Russian “Mir” electronic payment system operation and trading in Russian rubles in Egyptian banks and resorts will begin soon.
The sources refuted claims that the aforementioned Russian system had ceased operation in Egypt following Turkish banks’ decision to stop using it during the course of the previous several days in response to American threats.
According to the sources, the Russian “Mir” system and dealing in rubles are already in use, and Egypt has nothing to do with Turkey’s concerns regarding its implementation as a result of US warnings.
The last few days have seen a significant influx of Russian tourists at Hurghada, Sharm el-Sheikh, and Marsa Alam airports.
Observers attributed the influx of Russian tourists into Egypt to banks switching from using the dollar to the Russian ruble.
Some Turkish banks abandoned the Russian payment system after Washington imposed penalties on those that work with the Russian Mir system and the ruble rather than the dollar.
Given the substantial volume of trade exchange between the two nations and the influx of Russian tourists to Turkey carrying billions annually, Turkish President Recep Tayyip Erdogan urged the concerned authorities in his nation to launch a joint Turkish system with “Mir” away from American banks as soon as possible.
According to the same sources, Russian rubles will be added to the list of currencies accepted by Egyptian banks since the Central Bank plans to give banks access to the Mir system in collaboration with the Ministry of Finance.
She emphasised that the decision’s release coincides with an increase in travel contracts between hotels and Egyptian tourism businesses and their Russian counterparts and international tour operators, which will boost these contracts during the upcoming travel seasons and increase Egypt’s ability to recover from its recent tourism slump.
As an alternative to the dollar in trade, Russia has accepted the Egyptian pound, the UAE dirham, and the Chinese yuan.
The number of Russian tourists visiting the Egyptian tourist destinations in the Red Sea and South Sinai governorates, particularly Hurghada, Marsa Alam, and Sharm El Sheikh, would increase by a significant percentage in the coming months, according to Ramy Fayez, a member of the Tourism Investors Association in Marsa Alam. He explained that many Russian tourism companies have announced an increase in their demand for Egypt’s tourist destinations.
Source: the Egyptian publication Al-Shorouk.
According to Egyptian insiders, the Russian electronic payment system and dealing in rubles will begin soon.
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