Kazan, 18 June 2026 – Malaysia and Russia are exploring the use of the ringgit and ruble to expand bilateral trade and investment, marking a potentially important step in Kuala Lumpur’s wider push to strengthen local-currency settlement and reduce dependence on major third-party currencies in selected cross-border transactions.
The matter was discussed during a meeting between Prime Minister Datuk Seri Anwar Ibrahim and Russian President Vladimir Putin on the sidelines of the ASEAN-Russia Commemorative Summit in Kazan. The talks covered economic cooperation, energy security and potential mechanisms to support trade and investment using both countries’ local currencies.
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