**Putin Advocates for National Currency Trade at Russia-ASEAN Summit**
Kazan, Russia – During the ongoing Russia-ASEAN summit in Kazan, Russian President Vladimir Putin emphasized the importance of increasing trade between Russia and Southeast Asian nations using their national currencies. His remarks came on the second day of the summit, which is attended by leaders from various ASEAN member states, including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, East Timor, and Vietnam.
Putin highlighted that Russia is committed to continuing its supply of essential food and energy products to ASEAN countries. He also mentioned plans to enhance the export of higher value-added goods, such as fertilizers and pharmaceuticals. “The participants expressed their support for the qualitative and quantitative increase in the counter-trade indicators, to improve its structure and expand mutual investment. To do this, it is important to switch from financial transactions [in dollars] to national currencies,” Putin stated.
The Russian president's call for a shift away from dollar transactions is part of a broader strategy to strengthen economic ties and reduce dependency on Western financial systems. He urged the removal of trade barriers and the expansion of both maritime and rail transport links to facilitate smoother trade routes. The summit participants collectively backed the idea of fostering stronger trade relations and moving towards a more multipolar world order.
In addition to trade discussions, Putin and Philippine President Ferdinand Marcos Jr. announced that a joint statement and a concept paper on energy cooperation had been agreed upon. This document is intended to serve as a roadmap for practical cooperation between Russia and ASEAN in the energy sector.
The summit also saw the approval of a new action plan for 2026-2030, which outlines strategies to enhance collaboration in various fields, including politics, security, trade, investment, energy, transport, agriculture, the digital economy, and science and technology.
This year’s summit marks a significant milestone, celebrating 35 years of diplomatic relations between Russia and ASEAN. The gathering underscores the growing importance of Southeast Asia in global geopolitics and trade, as well as Russia's intent to deepen its engagement with the region.
As the summit progresses, the leaders of the participating nations are expected to further discuss and refine their cooperative initiatives, aiming to strengthen ties and promote mutual growth in an increasingly interconnected world.