Expert: Indonesia Has Opportunity to Buy Russian Oil at US$59 per Barrel

REPUBLIKA.CO.ID, JAKARTA – An energy expert from Padjadjaran University (Unpad), Yayan Satyakti, believes Indonesia could obtain oil at US$59 per barrel from Russia, which is cheaper than the global oil price. Currently, the global oil price is around US$100 per barrel, driven by the war between the United States (US)-Israel and Iran.

“That’s correct. Even at normal prices of around US$60-70 per barrel, Russian oil remains cheaper at about US$59 per barrel,” Yayan said in Jakarta on Tuesday (14/4/2026).

Yayan explained that after Western countries imposed sanctions and embargoes on Russian oil since 2022, the price of Russian oil in 2025 reached US$25 per barrel. That price, Yayan continued, is lower compared to oil from the Middle East, which is at US$60-70 per barrel.

Currently, with the closure of the Strait of Hormuz due to the war between the US-Israel and Iran, global oil prices have surged to around US$100 per barrel. It even briefly touched US$116 per barrel.

“If we look at the assumptions of receipts, the Russian government sets the oil price at US$59 per barrel,” Yayan said.

Furthermore, Yayan explained that if Indonesia buys oil from Russia with logistics costs of about 30 percent of the oil price, then the oil price would be in the range of US$76.7-80 per barrel. That price already includes logistics costs.

Thus, the cost required to buy oil from Russia is about 31-51 percent cheaper compared to the global oil price that once reached US$116 per barrel. “It’s more efficient, or even cheaper than that if the lobbying between President Prabowo and President Putin succeeds,” Yayan stated.