Novikombank, a Russian financial institution, has initiated the distribution of Mir payment system cards to Russian pensioners living in Cuba. This move enables them to receive their pensions and use the funds directly in various commercial outlets across the island.
The bank confirmed this development in a statement released by the Russian news agency AKM.
These cards can be used at gas stations, state-run shops, restaurants, cafes, hotels, and other businesses in Cuba equipped with electronic payment terminals.
Collaborative Efforts to Enhance Pension Access
This initiative was developed in collaboration with the Russian Embassy and its Consulate General in Havana. The goal is to streamline pension access for Russian citizens residing in Cuba, an issue that has been a priority for the consular services for some time, according to Novikombank.
Elena Georgieva, President of Novikombank, expressed that they have found a solution allowing Russian citizens to utilize regular financial services. She linked this initiative to the strengthening of economic and humanitarian ties between the two nations.
The bank did not disclose the number of pensioners who have received the cards or the total number of expected beneficiaries.
Expanding Financial Influence in Cuba
Novikombank is part of the RT-Finanzas holding under Rostec, a Russian state corporation and a leading supplier of military equipment.
The expansion of its services in Cuba is happening amidst increasing restrictions on the island's international financial transactions.
In June 2026, FINCIMEX halted operations with Visa and Mastercard in Cuba, following the decision of a foreign bank to cut ties with the Cuban financial institution to avoid sanctions under Executive Order 14404, signed by Donald Trump.
As a result, Cuban authorities turned to the Russian Mir and Chinese UnionPay systems as alternative international payment options.
By December 2023, the acceptance of Mir cards began to spread across Cuban businesses, chiefly aimed at Russian visitors, as BANDEC officials explained. Cuban banks would not issue these cards to Cuban citizens.
However, Novikombank announced that since 2025, it started issuing Mir cards to Cuban residents, including students enrolled in Russian universities.
In June 2024, Novikombank became the first Russian bank to open a representative office in Cuba, aiming to smooth financial and commercial operations between the two countries.
Additionally, in April 2025, the bank signed agreements with the Central Bank of Cuba and two commercial banks to facilitate financial transactions in rubles.
Understanding Mir Cards Usage in Cuba
How can Russian pensioners in Cuba use Mir cards?
Russian pensioners in Cuba can use Mir cards to receive their pensions and make purchases at locations equipped with electronic payment terminals, such as gas stations, restaurants, and hotels.
What led to the introduction of Mir cards in Cuba?
The introduction of Mir cards in Cuba was partly due to increased restrictions on international financial transactions, prompting Cuban authorities to seek alternative payment systems like Russia's Mir and China's UnionPay.