Economy yesterday: Russian oil imports to hydrogen bus launch

Minister of Energy and Mineral Resources Bahlil Lahadalia announced that the government has commenced the first phase of crude oil imports from Russia, fulfilling a commitment to import 150 million barrels. The statement was made on the sidelines of the Global Hydrogen Ecosystem Summit & Exhibition 2026 in Jakarta on Tuesday (21/7).

In a separate economic development, Minister of Finance Purbaya Yudhi Sadewa reported that the State Budget recorded a deficit of Rp196.5 trillion, equivalent to 0.76 percent of gross domestic product, as of June 2026. Purbaya stated that the deficit remains under control due to strong revenue growth and measured spending. He also presented the final opinion on the bill for the Indonesian International Financial Centre, emphasising that the centre is designed to complement the domestic financial system with a world-class, integrated ecosystem rather than replace it.

Meanwhile, Deputy Speaker of the People’s Consultative Assembly Eddy Soeparno revealed that the government will begin transitioning households from LPG stoves to electric induction cookers in 2027. The programme aims to reduce the burden of energy subsidies.

On the same day, the Ministry of Energy and Mineral Resources launched a Hydrogen-Diesel Dual Fuel bus pilot project and the Jakarta–Karawang–Patimban Green Hydrogen Corridor, spanning 194 kilometres. Minister Bahlil Lahadalia stated that these initiatives are part of a broader hydrogen ecosystem development strategy to strengthen the national energy transition, self-sufficiency, downstream industry, and industrialisation.