PT Perusahaan Perdagangan (Indonesia Trading Company), an Indonesian state-owned trading company and and Russian state-owned company Rostec have signed a memorandum of understanding to barter Indonesian agricultural commodities for Russian jet fighters, The Jakarta Post reports.
“The barter deal, which is under the supervision of the two governments, will involve 11 Sukhoi SU-35 jet fighters and several commodities like coffee, palm oil, tea, and defense equipment,” Indonesia Trade Minister Enggartiasto ‘Enggar’ Lukita said in a statement on Friday.
Lukita was on an official visit to Russia from August 3 to 5.
United States and European Union recently imposed sanctions against Russia.
“It is an opportunity we have to seize. The great potential for economic cooperation during the embargo and counter embargo goes beyond trade and investment issues,” the Indonesian official said.
“We also have the opportunity to enhance cooperation in tourism, student exchange, energy, technology, aviation, etc.,” he added.
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