TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsIndonesia, Russia deepen trade ties with QRIS, palm oil in focus
President Prabowo Subianto’s meeting with Russian President Vladimir Putin last week produced commitments to intensify trade, investment and industrial collaboration as part of the 75th anniversary of bilateral relations.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
President Prabowo Subianto speaks with his Russian counterpart Vladimir Putin in Saint Petersburg on June 19, 2025. (Presidential Secretariat/Laily Rachev)
I
ndonesia and Russia are advancing plans to deepen bilateral trade and economic ties, including finalizing a cross-border QR payment system and boosting palm oil exports, officials said following a bilateral meeting between the two countries’ leaders in the northern Russian city of Saint Petersburg last week.
When President Prabowo Subianto met his Russian counterpart President Vladimir Putin at the Constantine Palace on Thursday, the two discussed “the latest global developments and issues of common concern”, including trade, investment and industrial collaboration, as part of the 75th anniversary of bilateral relations.
“The meeting with President Putin was intense and productive. We saw meaningful progress in many areas, including trade, investment, agriculture and energy,” Prabowo said in a joint press statement with Putin, released on Friday.
Read also: Prabowo shores up ties with Putin
Among other topics, the talks focused on the implementation of a bilateral cross-border payment system using the Quick Response Indonesia Standard (QRIS) and local currencies.
The system, which would allow direct transactions between the two countries without going through a third-party intermediary, is ready for deployment, according to a press release published by the Office of the Coordinating Economy Minister on Sunday.
This follows a broader trend among Southeast Asian nations seeking to reduce dependency on the United States dollar by promoting local currency transactions (LCT) and digital financial integration.
