Russia, Indonesia face task of expanding direct interbank settlements - Russian deputy PM

JAKARTA. April 15 (Interfax) - Establishing direct settlements between Russian and Indonesian banks is currently being addressed by both countries' regulators, Russian First Deputy Prime Minister Denis Manturov said during a meeting of the Russian-Indonesian intergovernmental commission.

"Given current realities, I must also emphasize the importance of uninterrupted mutual settlements. The key task today concerns expanding direct correspondent banking relationships between our countries' financial institutions," he said.

Russian-Indonesian trade turnover has grown more than 80% over the past five years, reaching $4.3 billion in 2024, he said. Indonesia became one of Russia's top three trade partners in ASEAN last year, he said.

"We appreciate that amid unprecedented pressure, the Indonesian government maintains an independent foreign policy and a pragmatic approach to comprehensive development of cooperation with Russia," Manturov said at the meeting.