Mir, an increase of 75% over the previous year. In March 2021, the payment system announced a ban on the replenishment of foreign electronic wallets, as it considered such operations as high-risk. 2022 financial sanctions and their consequences In March 2022, as a result of international sanctions during the 2022 Russian invasion of Ukraine, Apple digital wallet services Apple Pay stopped supporting Mir cards. The 2022 exit of Visa and MasterCard from the Russian market resulted in increased use of the Russian Mir payment system in the Russian Federation and beyond at a time when their combined penetration accounted for 70% of the Russian consumer credit card market. Their cease of operations in Russia represented a 1.5 billion USD annual revenue loss to the two financial services giants. The result was a sharp increase in the number of Mir cards issued. As of April 1, 2022, the number of Mir-compliant cards in circulation exceeded 125 million, an increase of 10.3% from the previous quarter. That sudden and sharp increase in demand created shortage of chips for MIR cards. It is estimated that banks' demand for card chips is six times higher than production capacity of their only domestic manufacturer Mikron Group. In September 2022, the US Treasury Department threatened foreign banks with secondary sanctions for servicing Mir cards. The department said in a statement: “non-U.S. financial institutions that enter into new or expanded agreements with NSPK risk supporting Russia’s efforts to evade U.S. sanctions through the expanded use of the MIR National Payment System outside the territory of the Russian Federation”. In the following weeks, large banks in a number of countries began to refuse to service Russian cards. Among them were Turkish DenizBank and İşbank, Vietnamese BIDV, Kazakh Halyk Bank, Tajik Dushanbe City. In Uzbekistan, the acceptance of Mir cards was stopped "for technical reasons". The most serious problem for Russian citizens was the restrictions on servicing the Mir card in Turkey. This is one of the most popular tourist destinations in Russia. The governments of both countries are looking for a replacement for Mir. The Turkish authorities propose to use the Troy national payment system as an alternative. Operations Russia Mir is a state-subsidised payment system, which came into force on 1 May 2017 mandating that all welfare and pension payments be processed by January 2018. Banks were reluctant to issue them, as they feared that their cost