Indonesia considers importing Russian oil to offset rising energy costs

Indonesian President Joko Widodo has said he is considering importing oil from Russia to curb rising energy prices, according to an interview published Monday in the British newspaper Financial Times (FT).

Widodo has indicated that his country should look at “all options” when it comes to greatly increasing the quantities of oil from the Russian market.

“We always monitor all options. If there is the country and they give a better price, of course,” the Indonesian leader has assured in response to the question whether his government would buy Russian oil.

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“The government has a duty to find various sources to meet the energy needs of its people. We want to find a solution,” Widodo explained.

Indonesia, historically, has not imported large quantities of oil from Moscow, but Putin’s offer to buy its resources at a price 30 percent lower than the international market, makes the option being assessed.

Two of its regional neighbors, India and China, have already significantly increased their purchases in this commodity from Russia, thanks to the discount proposed by Moscow to bring countries that are not part of the sanctions led by the United States and the European Union closer together.

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Therefore, if Indonesia were to join India and China, these imports would help Moscow make up for much of its lost revenue from falling shipments to Europe, according to FT.

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