On Monday Russia warned that it would begin aggressively reducing its dependence on the US Dollar and US-based payment systems, and shortly after it confirmed just that when Indonesia announced that it will barter coffee, palm oil, tea and various other commodities in exchange for 11 Russian-made Su-35 fighter jets, calling U. S. and European sanctions against Russia “an opportunity to boost the Southeast Asian nation’s trade.”
The Indonesian Ministry of Trade said that a memorandum of understanding for the barter was signed Aug. 4 in Moscow between Russia’s Rostec and PT. Perusahaan Perdagangan Indonesia, both state-owned companies. ‘This barter under the supervision of both governments hopefully will soon be realized through the exchange of 11 Sukhoi Su-35s and a number of Indonesian exports, starting from coffee and tea to palm oil and strategic defense products,’ Indonesian Trade Minister Enggartiasto Lukita said on Monday, as quoted by Reuters.
This post was published at Zero Hedge on Aug 7, 2017.