Russia, Myanmar Conduct Two-Thirds of Transactions in Rubles - Putin
15:42 GMT 18.08.2026 (Updated: 16:08 GMT 18.08.2026)
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Russia and Myanmar have strengthened financial ties, with two-thirds of bilateral transactions now conducted in rubles, Russian President Vladimir Putin said.
“Stable channels for financial settlements have been established, with two-thirds of commercial transactions conducted in Russian rubles,” Putin said in remarks following the Russia-Myanmar talks.
Russian companies are ready to participate in geological exploration for hydrocarbon production in Myanmar, including offshore projects, Russian President Vladimir Putin said.
Russia, Myanmar establish strong financial ties, with two-thirds of transactions conducted in rubles - Putin
— Sputnik (@SputnikInt) August 18, 2026
Other remarks by the Russian president:
🔸 Russian companies are prepared to participate in geological exploration for hydrocarbon extraction in Myanmar, including… pic.twitter.com/DQVqxJMGpC
“Energy is an important area of cooperation between our two countries. Joint construction of a power plant and an oil refinery in southern Myanmar is on the agenda. Russian companies are also ready to take part in geological exploration and hydrocarbon production, including offshore,” Putin said.
Relations between Russia and Myanmar continue to strengthen and acquire more concrete substance, Vladimir Putin said.
“The main thing is that Russia-Myanmar relations continue to strengthen steadily and are being filled with new, concrete substance,” Putin said following the talks.
Vladimir Putin said there are good prospects for launching exports of Russian liquefied natural gas to Myanmar, including for onward transit to neighboring countries.
“There are good prospects for exporting liquefied natural gas to Myanmar, not only for domestic consumption but also for transit supplies to neighboring countries,” the Russian leader said.
Russia and Myanmar have established close military-technical cooperation, Putin said.
"Our countries have established close military and military-technical cooperation," Putin said following the talks with Myanmar President Min Aung Hlaing in Moscow.
Vladimir Putin also described Myanmar President Min Aung Hlaing as a friend of Russia.
“We are very pleased to welcome on an official visit our dear friend, the President of the Republic of the Union of Myanmar, Mr. Min Aung Hlaing,” Putin said.
He added that Russia and Myanmar are united by genuinely strong, time-tested ties of friendship, partnership and mutual support.
Myanmar, Russian Leaders' Meeting Boosts Development of Countries' Relations
The meeting between the leaders of Russia and Myanmar provides impetus for the development of relations between the two countries, as well as economic ties, Myanmar President Min Aung Hlaing said on Tuesday.
"The meeting between us provides a great impetus for the development of not only relations but also economic ties," the Myanmar president said following the meeting with Russian President Vladimir Putin in Moscow.
Putin and Myanmar President Min Aung Hlaing held talks at the Kremlin on Tuesday.
