Indonesia has taken delivery of its first shipment of Russian crude oil, part of a government‑to‑government deal to import up to 150 million barrels as Jakarta races to secure fuel reserves amid global supply disruptions triggered by the closure of the Strait of Hormuz.
About 770,000 barrels arrived at Balikpapan port on June 29, valued at $75 million, according to customs data cited by Big Trade Data. The shipment was loaded at Russia’s Kozmino port and transported on the tanker Sierra. Energy Ministry spokesperson Dwi Anggia confirmed the procurement was handled through a public service agency Lemigas marking a shift from Indonesia’s usual reliance on national oil company Pertamina.
The move comes as purchases of Russian crude remain under scrutiny following Moscow’s 2022 invasion of Ukraine. While Washington previously barred countries from buying sanctioned Russian oil as part of reciprocal trade deals, it issued a temporary waiver during the Hormuz crisis to stabilise global prices. With that waiver expiring in mid‑June, it remains unclear whether earlier restrictions have been reinstated.
Energy and Mineral Resources Minister Bahlil Lahadalia defended the imports, saying Indonesia must prioritise national fuel security. “I don’t want to worry about where we get it from, as long as it does not violate any rules,” he said. He added that Indonesia had completed the first phase of imports and warned that “other countries should not interfere with our national sovereignty. We need oil.”
Indonesia, Southeast Asia’s largest economy, imported 60 percent of its fuel needs last year, with around 20 percent coming from the Middle East. The ongoing US‑Israeli war on Iran has severely disrupted Gulf energy shipments, prompting Jakarta to diversify supply sources.
Anggia said the government is “making every effort to strengthen national energy security,” stressing that the volatile geopolitical climate makes a stable fuel supply essential.
+ There are no comments
Add yours