Overview

• On June 19, presidents Prabowo Subianto and Vladimir Putin signed a strategic partnership in St. Petersburg that will deepen military, security, trade and nuclear cooperation.
• Indonesia’s Danatara sovereign wealth fund and Russia’s RDIF agreed to establish a €2 billion (US$2.29 billion) investment vehicle for joint economic and technical projects.
• President Prabowo denied that skipping the G7 summit in Canada was a snub, citing a prior commitment to the St Petersburg International Economic Forum.
• Russia’s endorsement of Indonesia’s entry into BRICS as a full member underscores the partnership’s geopolitical significance in the Global South.
• Jakarta plans to build its first nuclear power plant by 2032 to boost capacity and curb carbon emissions with potential support from Russian technology.