Russian national payment system integration potential in Russia and Turkey financial security context

Importance. The article reveals the problems of the Russian national payment system, as well as its place and role in ensuring national security and economic growth of Russia and the possibility of integration into the Turkish banking system in the context of signing on October 4, 2019 the Agreement between the Government of the Russian Federation and the Government of the Republic of Turkey on settlements and payments, aimed at expanding and strengthening interbank cooperation, as well as ensuring uninterrupted payments between business entities of the Russian Federation and Turkey. It considers the forecasts, prospects and threats of the functioning of the payment system in the framework of de-dollarization and ensuring the economic security of Russia and Turkey. Purpose. A comprehensive study of the integration potential of the Russian national payment system and the possibility of its application in the banking system of Turkey, assessed the prospects and threats of the functioning of the payment system in the framework of de-dollarization and ensuring the financial security of Russia and Turkey. Design/methodology/approach. In the process of studying the problems of integrating the Russian national system into the Turkish banking system, logical, statistical analysis methods were used. Findings. In connection with the activation and liberalization of financial markets, the strengthening of integration processes in the global economy, as well as the continuous extension of sanctions against the Russian Federation and its strategic partners, there is a radical reorientation of economists' views on the organization of cashless payments: from an infrastructure element that performs mechanical functions to the basic regional structure economics. Originality/value. Gradually, through the conclusion of agreements on settlements in national currencies, the dependence on the US dollar and, in principle, on the American financial system in trade and investment relations of Russia and its trade and economic partners is reduced. Such a measure does not significantly affect the turnover of trade between countries, but protects it from the influence of third parties, since America can no longer block transactions in settlements in national currencies. Many countries are subject to US restrictions, so using the US dollar in cross-border transactions is equally risky for these countries.

Russia, Turkey, dedollarization, financial security, national payment system