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01:05 PM, August 22, 2017
Indonesia To Pay Half Cash, Rest Commodities In $1.14 Billion Deal For 11 Sukhoi Jets

Indonesia has offered to pay $570 million worth of commodities in addition to cash for 11 Sukhoi Su-35 fighter jets worth $1.14 billion from Russia.

Indonesian Trade Minister Enggartiasto Lukita said in a joint statement with Defence Minister Ryamizard Ryacudu Tuesday that details of the type and volume of commodities were “still being negotiated”, Today Online reports. Previously he had said the exports could include palm oil, tea, and coffee.

The deal, to be carried out between Russia's Rostec and PT Perusahaan Perdagangan Indonesia, is expected to be finalised soon.

Meanwhile, Russia is currently facing a new round of US-imposed trade sanctions. The EU and US have targeted Russia with sanctions for alleged meddling in the US presidential election and its annexation of Ukraine's Crimea.

Recently, Indonesian Trade Minister Enggartiasto Lukita had said the sanctions, which have forced Russia to seek new markets to import from, could be good news for Jakarta.

Indonesia is trying to promote its palm oil products amid threats of a cut in consumption by European Union countries.

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