The President of Indonesia: the country is considering the possibility of importing oil from Russia

Indonesia is considering importing oil from Russia to curb rising energy prices in the domestic market, declared President Joko Widodo in an interview with the British newspaper Financial Times.

“We are always monitoring all options. If there is a country that gives the best price, of course. The government has an obligation to find various sources to meet the energy needs of its people. We want to find a solution,” he said.

According to the publication, if Indonesia decides to follow the example of India and China, which have significantly increased purchases of Russian oil thanks to the discount provided, this will help Russia compensate for a significant part of the losses from the reduction in supplies to Europe.

At the end of August, it became known that China purchased oil, oil products, gas and coal from Russia for $35 billion from March to July compared to $20 billion for the same period in 2021. China’s customs data showed an increase in oil imports to 7.15 million tons ( +8% compared to 2021), coal – up to 7.4 million tons (+14%), and coking coal – up to 2 million tons (+63%). Russia has become the main supplier of fuel to China, displacing Indonesia, while part of the supplies are carried out at reduced prices.

Oil imports from Russia to China rose sharply in 2022, because after the EU refused to buy oil from Russia, Moscow had to reorient its supplies and sell at a discount. The EU embargo on the purchase of Russian oil will come into force in December this year.

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