Russia Urges BRICS Attendees to Carry Cash Due to Western Sanctions

As the upcoming BRICS summit nears, Russian officials have advised international attendees to carry cash, highlighting the difficulties arising from Western sanctions.

While Vladimir Putin seeks to demonstrate resilience against the economic restrictions imposed due to Russia’s ongoing war against Ukraine, summit organizers have made it clear that foreign visitors should be prepared to rely on physical currency.

The summit’s official website states that foreign Mastercard and Visa cards will not function in Russia, as these payment networks have been barred from operations due to sanctions. While UnionPay cards can be used, they come with specific restrictions.

As an alternative, Russia recommends that attendees bring US dollars or euros, which can be readily exchanged for rubles at most banks. Additionally, participants are encouraged to acquire the domestic Mir bank card, with instructions on how to obtain one available at Kazan Airport, the summit’s host location.

This guidance represents an implied acknowledgment from Kremlin officials, who have previously condemned the dollar and euro as “toxic” currencies in response to economic sanctions imposed by the United States and its allies since the start of Russia’s full-scale invasion of Ukraine in February 2022. To offset the economic effects of these restrictions, Russia has increasingly turned to “friendly” currencies, such as the Chinese yuan.

The Mir payment system, once promoted as a viable alternative to Visa and Mastercard, has faced significant obstacles, with even some of Russia’s closest allies distancing themselves from the card after it was subjected to US sanctions.

Earlier, Putin announced that he will not attend the G20 summit in Brazil, a signatory of the Rome Statute and obligated to arrest him under an International Criminal Court warrant.