Egypt and Russia are working on allowing the use of Russia’s homegrown payment system MIR in Egyptian Red Sea resorts. The move comes after western countries imposed a ban on the use of US-based payment companies, Visa and Mastercard, for Russian citizens. The Russian MIR system will allow tourists to pay for goods and services in Egypt using rubles, while the seller gets their cash in Egyptian pounds. Russian tourists form a crucial part of Egypt’s tourism industry. Tourism revenues account for up to 15% of the country’s GDP.