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Malaysia and Russia Explore Ringgit-Ruble Trade to Deepen Economic Ties

By Siti4 min read

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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Author

  • Siti is a news writer specialising in Asian economics, Islamic finance, international relations and policy, offering in-depth analysis and perspectives on the region’s evolving dynamics.