Jakarta. President Prabowo Subianto aims to double Russian trade with a new Eurasian trade pact, although Indonesian businesses are worried about angering Western partners.

Prabowo is making another visit to Russia in pursuit of deeper economic ties. He repeatedly mentioned Jakarta’s trade pact with the Eurasian Economic Union (EAEU) during the trip. The $3 trillion EAEU bloc brings together Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. Prabowo feels that Indonesia-Russia trade —  which approached $5 billion in 2025 — still has a huge room for growth. 

“I propose that Indonesia and Russia set a clear challenge to ourselves: to double our trade within the first review period of the EAEU free trade agreement," Prabowo told Vladivostok’s Eastern Economic Forum on Thursday.

Jakarta offers to sell palm oil and textiles, among others, while looking to import Russian wheat and fertilizers. Prabowo was upbeat that this complementary nature can drive a “fair and durable trade”.

The EAEU pact, which is set for early 2027 entry into force, will eliminate or cut duties across 11,882 tariff lines, representing over 90% of the traded goods. Prabowo announced Jakarta’s completion of the lawmaking processes necessary for the deal to advance. He called on the EAEU economies to follow suit, something that Russia and Belarus had already done. Amid possible Western scrutiny, Prabowo said that the EAEU pact was “not an alliance against anyone”. 

Russian President Vladimir Putin called Indonesia a “key partner in Southeast Asia”, praising how mutual trade jumped by over 12% last year.

Despite Prabowo’s assurance that the EAEU pact is “not an alliance against anyone”, Indonesian businesses remain cautious about stepping up their engagements with Moscow. Russia has been subject to Western sanctions following its full-scale invasion of Ukraine in February 2022.  

To the Jakarta Globe, Indonesian Employers Association (Apindo) chair Shinta Kamdani finds the doubled trade target realistic. She, however, warned of the secondary sanctions that Western nations — including the European Union and the US — may impose for helping Moscow escape their restrictions.

“Russia has faced economic and financial embargoes, … thus increasing the export-related burden and political risks for Indonesian businesses,” Shinta said.

“We hope the government finds a way out [of these challenges], including by creating secure transaction channels. … They need to proactively identify what sort of Russia-bound goods carry low political risks.” 

Trade Ministry data showed that annual bilateral export-imports amounted to $4.8 billion in 2025, while already reaching almost $3.6 billion this year as of July.

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