On Monday, 4 September, Ivan Polyakov, Chairman of the Russia-ASEAN Business Council, told the ASEAN Business and Investment Summit (ABIS-2023) taking place in Jakarta about foreign economic steps that could reduce inflation in Russia in the short term and positively affect the exchange rate of the Russian ruble towards the U.S. dollar.

In his opinion, Russian business in Southeast Asia is capable of dramatically affecting the scale and structure of Russian trade and investment in ASEAN. Close cooperation of the Russian Federation with the countries of the association, implementation of bilateral and multilateral projects will allow not only to significantly expand the basket of currencies received by domestic companies, but also to solve the problem of return of proceeds in Indian rupees received for Russian energy exports.

Polyakov noted that such foreign economic steps in the short term can reduce inflation in our country and have a positive impact on the exchange rate of the Russian ruble towards the US dollar.

On the second day of the ASEAN Business and Investment Summit, governments’ efforts to support the private sector and address the region’s most pressing problems were discussed.

Photo: ASEAN Business and Investment Summit