Russia and Indonesia are negotiating the possibility of using national currencies in mutual settlements. This was announced by Russian Ambassador to Jakarta Sergey Tolchenov in an interview with the Jakarta Globe.
“We must find suitable ways to use national currencies. Russian and Indonesian financial institutions are working on this,” the diplomat said.
At the same time, he stressed that the Russian side does not set specific deadlines for reaching an agreement on settlements in national currencies. According to him, the most important thing is to find suitable mutually beneficial solutions.
In addition, Tolchenov noted that not only central banks and finance ministers, but also the private sector should participate in relevant discussions. He explained that it is important for businesses to have independent and stable financial settlement channels.
The ambassador also said that the BRICS countries are now focused on promoting the use of national currencies, rather than creating a new monetary unit.
“The fact that Indonesia is now a member of the BRICS will hopefully help us resolve issues related to payments,” Tolchenov added.
The publication notes that the republic already uses national currencies in mutual settlements with China, Malaysia and Thailand. In addition, the Bank of Indonesia signed a memorandum of understanding with the Central Bank of India in 2024. The document opens up the possibility for the two countries to use Indian and Indonesian rupees in cross-border transactions.
Indonesia became a full member of the BRICS on January 6, 2025. At that time, the Brazilian Foreign Ministry, which holds the presidency of the association this year, stressed that this republic is the largest economy in Southeast Asia.
Source https://tvbrics.com/news/posol-rossii-v-indonezii-zayavil-o-vozmozhnom-perekhode-na-natsvalyuty-v-raschetakh-mezhdu-stranami/