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EAEU, Indonesia close to deal on national currency settlements — diplomat

Russian Ambassador to Indonesia Sergey Tolchenov said that negotiations are ongoing

YEKATERINBURG, July 6. /TASS/. The Eurasian Economic Union (EAEU) and Indonesia are close to concluding an agreement on settlements in national currencies, Russian Ambassador to Indonesia Sergey Tolchenov told reporters at the Innoprom international industrial exhibition.

"Negotiations are ongoing, and a final solution has not yet been reached. However, we are quite close to it. <...> Both the Central Bank of Russia and our commercial banks are searching for partners, and various options are being discussed," Tolchenov said when asked about the status of the agreement.

The free trade zone agreement between the EAEU and Indonesia was signed on December 21, 2025. It provides preferential access to the Indonesian market for 99% of current Russian exports.

Once implemented, the agreement will slash Indonesia's average tariff by more than half, from 8% to 3.2%, exempting the vast majority of Russian shipments from customs duties.

The 16th Innoprom International Industrial Exhibition runs from July 6 to 9 in Yekaterinburg, with Indonesia serving as the partner country. The event is organized by the Russian Industry and Trade Ministry of and the Sverdlovsk Region government. TASS is the official general news agency for the exhibition.

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