Indonesia is considering importing affordable Russian crude oil after joining the BRICS group last week, provided it aligns with international regulations, according to Bahlil Lahadalia, Indonesia’s Minister of Energy and Mineral Resources.
Indonesia, the largest economy and most populous nation in Southeast Asia, became the first country in the region to join the BRICS alliance, which now includes 11 full members: Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates (UAE), Ethiopia, Iran, and Indonesia. Brazil, which holds the BRICS presidency for 2025, made the announcement.
Upon joining the group, Indonesia emphasized that its membership was a strategic move to foster increased cooperation with other developing nations, built on the principles of equality, mutual respect, and sustainable development.
Meanwhile, last week, the outgoing U.S. administration imposed its toughest sanctions yet on Russia’s oil sector. The sanctions targeted two major Russian oil companies, Gazprom Neft and Surgutneftegas, alongside 183 vessels, numerous oil traders, oilfield service providers, insurance firms, and energy officials.
The sanctions have caused significant market disruption, leading India and China—Russia’s major oil customers—to work swiftly to avoid trading with sanctioned tankers and traders. India’s refiners have already stopped engaging with the Russian companies and tankers affected by the sanctions, a source from the Indian government told Reuters on Monday.
Although the sanctions are in place, India expects its oil supplies from Russia to remain uninterrupted until March, as the sanctioned tankers will still be permitted to offload oil until then.
Given these developments, Indonesia faces a complex challenge in balancing its interest in Russian oil imports with adherence to international laws.
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