To make the "World" a better place: Russia and Vietnam are working to expand the acceptance of Russian cards

Moscow and Hanoi are looking for ways to expand the Mir card acceptance network, including by increasing the number of ATMs of the Vietnam-Russian Bank (VRB), the Russian Embassy in the republic told Izvestia. Sanctions against VTB are hindering the full development of this system, but the need for payment instruments is only growing. By the end of 2025, a record tourist flow was recorded in the country, against which the parties are considering an increase in the number of flights. At the same time, Moscow and Hanoi retain the status of a comprehensive strategic partnership. How the Russian Federation and Vietnam adapt economic ties to external pressure — in the material of Izvestia.

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Even under the conditions of sanctions, the Russian side is striving to ensure the operation of Mir maps for the convenience of Russians in different countries, including Vietnam.

— Russian and Vietnamese banking structures are discussing ways to expand the use of the Russian Mir payment card in Vietnam. Among them is an increase in the number of ATMs of the Vietnamese—Russian Joint Bank (VRB) in the places where a large number of our citizens stay," the Russian Embassy in the country told Izvestia.

The VRB, created by the efforts of the Bank for Investment and Development of Vietnam (BIDV) and VTB as a joint project, is the main instrument of interaction between the states. He started his work on November 19, 2006, almost 20 years ago. Currently, there are six branches throughout Vietnam in key economic centers — Hanoi, Ho Chi Minh City, Vung Tau, Da Nang, Nha Trang, Haiphong, and the organization has 21 ATMs, according to its website.

However, due to sanctions restrictions on VTB, the possibilities of the Vietnamese-Russian joint bank are significantly limited, the embassy noted. Nevertheless, he continues his work. The expansion of the acceptance of Mir cards may increase the tourist flow from Russia to Vietnam. In 2025, a record was set — more than 690 thousand people visited the country, which exceeded the "low level". According to the growth rate among foreign citizens, the tourist flow from Russia took the first place, the embassy noted.

To maintain this dynamic, the countries have already increased the volume of air transportation — regular and charter flights are operated to Hanoi, Ho Chi Minh City and Nha Trang from Moscow, St. Petersburg and a number of Siberian and Far Eastern cities.

— The geography of flights is determined by companies based on considerations of commercial expediency. For our part, we welcome the increase in passenger traffic, which contributes to the expansion of mutual contacts," the diplomats stressed.

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Military cooperation between Moscow and Hanoi

Tourism is just one of the areas of bilateral cooperation that has the status of a comprehensive strategic partnership. The Russian‑Vietnamese Intergovernmental Commission on Trade, economic, Scientific and Technical cooperation is working between Moscow and Hanoi.

Against the background of Vietnam's desire for technological sovereignty and a "green" transition, nuclear energy and high technologies are becoming priority areas of cooperation. The greatest prospects are associated with the restart of the Ninh Thuan-1 NPP project, which has been on hiatus for about eight years, Elena Polltsina, senior researcher at the Center for Vietnam and ASEAN Studies at the ICSA RAS, clarified in an interview with Izvestia. In addition, there is potential for mutual recognition of carbon credits, market—based emission control tools that allow companies to offset their footprint.

For 11 months of 2025, the trade turnover between Russia and Vietnam amounted to about $4.3 billion: Russian exports to Vietnam amounted to $2.24 billion, imports from Vietnam — $2.06 billion. In 2024, it was more — about $6 billion.

— The decline is due to a complex of various unrelated factors — for example, the cost of mineral fuels decreased. This is caused by fluctuations in oil prices. Our wheat supplies have decreased, which is also caused by the global economic situation and the strong ruble. But the main reasons are difficulties with international transportation and payments," explained Elena Polltsina.

Vietnam buys industrial items from the Russian Federation — coal, fertilizers, oil and gas nomenclature, metals, and some equipment, while Russia buys tropical agricultural products, beverages, seafood, textiles, electronics, and consumer goods.

Historically, Hanoi has acquired a significant part of weapons from Moscow, so today the issues of operation and modernization of this equipment are relevant. In addition, the Russian Federation offers its experience in countering terrorist attacks using UAVs. Extremist groups are active in the Daklak province, which advocate the creation of a "Degar state" in the Central Highlands. In 2023, for example, the police headquarters was attacked. Russia also shares its best practices in the field of information security and trains Vietnamese military personnel in its specialized universities.

At the same time, in recent years, there has been a reduction in purchases in the defense industry, especially after 2022 due to Western sanctions that limit the export of Russian weapons, Pyltsina noted. In addition to modernizing Soviet and Russian equipment, Hanoi is developing its own facilities and looking for new suppliers.

"However, a complete break is unlikely, as the Vietnamese army remains deeply integrated with Russian technology, supply chains, and training," the expert added.

Therefore, cooperation in the military sphere will continue, but it will be less intense due to the availability of alternative sources for Vietnam to purchase weapons, the expert concluded.