Russian President Vladimir Putin met Indonesian President Prabowo Subianto in the Russian city of St Petersburg, where they signed a declaration on strategic partnership. Prabowo said the relationship between the two countries was “getting stronger again”. “My meeting with President Putin today was intense, warm and productive. In all fields of economics, technical cooperation, trade, investment, agriculture – they all have experienced significant improvements,” he said.
The meeting comes as Moscow seeks to strengthen ties in the Global South amid Western efforts to isolate the country following its war on Ukraine. Danatara, Indonesia’s sovereign wealth fund, and the Russian Direct Investment Fund signed an agreement to create an investment fund worth 2 billion euros ($2.29bn).
Putin acknowledged Indonesia’s entry into the BRICS grouping of emerging economies as a full member. “Our relations with Indonesia are developing steadily. Trade turnover is growing. We have good prospects in a number of promising and very interesting areas of cooperation,” Putin said. “This includes agriculture, space, and energy, as well as military-technical cooperation. Our interaction is very great, and it is growing.”
Indonesia is seeking to boost power generation while capping its carbon emissions, considering nuclear power as a solution. As Southeast Asia’s largest economy relies primarily on coal as a source of power, despite its massive potential for renewable energy sources such as hydro, solar, and geothermal.
Prabowo’s decision to skip the G7 summit in Canada this week in favour of talks with Putin raised fears of a tilt towards Moscow, analysts said. Last year, the two countries held their first joint naval drills.
The meeting between Putin and Prabowo is part of the St Petersburg International Economic Forum, where the two leaders will take part in a plenary session. The forum provides a platform for global leaders to discuss pressing economic and geopolitical issues.
As the world navigates complex geopolitical relationships, the strengthening ties between Russia and Indonesia highlight the evolving dynamics in international relations.