Carrier Caracas: Venezuela expands acceptance of Russian cards

Moscow and Caracas are discussing the expansion of accepting cards of the Russian Mir payment system in Venezuela, and are also exploring the possibility of issuing them by local banks. This was reported to Izvestia by Ambassador Sergey Melik-Baghdasarov. An important outcome of the state visit of the leader of the Latin American republic, Nicolas Maduro, to the Russian Federation, timed to coincide with the Victory Day celebrations, was the signing of a strategic partnership agreement. According to the expert community, it demonstrated that Caracas belongs to the rank of key Russian partners in Latin America. The strengthening of Russian-Venezuelan cooperation and key points of the bilateral agreement can be found in the exclusive Izvestia article.

Where can I pay with a Mir card in Latin America

Moscow and Caracas are discussing an increase in the number of card acceptance points of the Russian Mir system in Venezuela. Sergey Melik-Bagdasarov, the Russian Ambassador to Latin America, told Izvestia about this.

— Of course, this issue is on the agenda, and the number of points where our Mir card is accepted is growing day by day. President Maduro said there are 25,000 such points today. For my part, I can say that the embassy staff checks the operation of the Mir cards in every possible place, and every day we learn about an increasing number of points where they are accepted. This prospect exists, and our tourists and members of various delegations will increasingly use our cards in Venezuela. The work is underway, and it has great prospects," the diplomat pointed out.

Venezuela's bank terminals began accepting Mir cards in 2023. President Nicolas Maduro noted at the time that the introduction of the Russian payment system into the country's financial structure was helping to implement the plan to de-dollarize the economy of the Bolivarian Republic.

Currently, the possibility of paying with Russian Mir cards in Latin America is also available in Cuba and Nicaragua. In Managua, an ATM appeared in 2024, which makes it possible to withdraw money in foreign currency from Mir cards.

"We have invited Russian companies to localize production in Venezuela"

The Minister of Foreign Affairs of the Bolivarian Republic Ivan Gil Pinto — on the details of the agreement on strategic partnership with the Russian Federation and interest in BRICS

In addition, according to the ambassador, the parties are talking about the possibility of issuing cards of the Russian Mir payment system by Venezuelan banks.

"These issues are being discussed, but these are technical issues that lie in the plane of negotiations between our financial institutions," the diplomat said.

What does a strategic partnership agreement mean?

The signing of the strategic Partnership and Cooperation agreement was the result of the Venezuelan delegation's state visit to Russia last week.

"The strategic Partnership and Cooperation Agreement signed by the Presidents of Russia and Venezuela, Vladimir Putin and Nicolas Maduro, was the first such important agreement concluded by a Latin American country [with Russia]," Foreign Minister Ivan Gil Pinto told reporters on May 7.

The document signed by Vladimir Putin and Nicolas Maduro contains 25 articles. For example, the parties pledged to cooperate on international platforms, promote strict observance of international law by all members of the international community, condemn unilateral sanctions, and regularly hold high-level and high-level meetings.

"Issues of bilateral contacts at the highest and highest levels are traditionally dealt with through diplomatic channels," stressed the Russian Ambassador to Venezuela.

The energy sector will be an important area of cooperation. The parties expect to work together on the exploration and development of new oil and natural gas fields, increase the returns of fields operated by joint ventures, and jointly develop cooperation in the field of electric power.

"Companies from Russia and Venezuela are already actively working together. Venezuela has been conducting various operations in the fields of development, production and use of fossil fuels for many years, and after signing this strategic partnership agreement, we will be able to step on the gas and move forward more actively in the implementation of joint projects, this will help us remove any obstacles," the Foreign minister said earlier in an interview with Izvestia. Venezuela's Ivan Gil Pinto.

Contact period: Russia expects to sign an agreement with Venezuela in 2025

How will strengthening the strategic partnership help both countries cope with external pressure

In addition, Russia and Venezuela agreed to develop a transport and logistics infrastructure that is resistant to external restrictions for the transportation of goods by air and by sea.

Another important area of cooperation will be military-technical cooperation. Russia and Venezuela have pledged to improve defense relations to maintain regional and global security. Countries have already made significant progress in this area. A representative office of Rostec operates in the Bolivarian Republic, representing the interests of Rosoboronexport, and in March 2019, a helicopter training center was opened in the country to train pilots to operate Mi helicopters.

According to the text of the agreement, Moscow and Caracas will also strengthen cooperation in the fields of healthcare, media, education and culture.

— The signing of the agreement has demonstrated that Caracas belongs to the rank of key Russian partners in Latin America. The document is intended to record a high level of relations and outline new areas of cooperation. Among them is the creation of an alternative oil transportation insurance system, as well as the formation of an independent bilateral financial infrastructure. In addition, the trade turnover between the two countries increased by 64% last year, to $200 million, but this figure still does not match the potential of both economies," Timur Almukov, an expert on Latin America, told Izvestia.

In addition to Venezuela, Russia's strategic partners include relations with Brazil, Argentina, Cuba, Nicaragua, Bolivia, Peru, Chile and Ecuador, the expert says. The content of each partnership varies from country to country: in the case of Ecuador and Bolivia, the emphasis is on major economic projects, while in the case of Cuba and Nicaragua, it is on the similarity of views on the international situation, Timur Almukov emphasizes. As for the possibility of expanding this category, Mexico is currently most in line with these parameters, demonstrating similar positions with Russia on a number of issues on the international agenda, the expert concluded.