In order to offset the mounting pressure of increasing energy prices, Indonesian President Joko Widodo is thinking about purchasing Russian oil alongside India and China, Reuters reported.
When asked whether Indonesia will purchase oil from Russia, Widodo responded, “We always monitor all of the options. If there is the country (and) they give a better price, of course.”
As a result of financial concerns, Widodo raised the price of subsidized petrol by 30% earlier this month, prompting protests across the 270-million-person country. Widodo said that the price increase was his “last option.”
Should Indonesia proceed to buy Russian crude at a price higher than the G7 price cap, the country may face sanctions from the United States.
Sandiaga Uno, the minister of tourism, claimed in August that Indonesia had received a 30% discount on Russian petroleum. The nation’s state-owned oil corporation, Pertamina, then declared that it was examining the dangers of acquiring Russian oil.