Indonesia considers joining India, China in buying Russian oil

WORLD, Sept. 12 (YPA) – Indonesian President Joko Widodo is considering buying Russian oil to reduce the pressure of rising energy costs, the Financial Times reported on Monday.

“We always monitor all of the options. If there is the country (and) they give a better price, of course,” Widodo said in an interview with the Financial Times when he was asked whether Indonesia would buy oil from Russia.

Earlier this month, Widodo hiked subsidised fuel prices by 30% and said that the price hike was his “last option” due to fiscal pressures.

The move sparked protests across the nation of 270 million people.

In August, Tourism Minister Sandiaga Uno said that Indonesia had been offered Russian crude at a 30% discount. Following this, the country’s state-owned oil company, Pertamina, said it was reviewing the risks of buying Russian oil.

Southeast Asia’s largest economy, Indonesia posted an annual inflation rate of 4.7% in August, above the central bank’s target range of 2%-4% for a third straight month, due to high food prices.

E.M