Hashim: Indonesia Has Strong Economic Fundamentals Amid Geopolitical Turmoil

Indonesia’s energy resilience remains relatively stable at present, supported by the government’s anticipatory measures and the President’s strategic diplomacy with global partners. Jakarta (ANTARA) - Presidential Special Envoy for Energy and Environment Hashim Djojohadikusumo revealed that amid global geopolitical turmoil, Indonesia possesses strong economic fundamentals with maintained food, energy, and fiscal resilience. He stated that Indonesia’s energy resilience is currently relatively stable, backed by the government’s anticipatory steps and the President’s strategic diplomacy with global partners. “Efforts towards food self-sufficiency, strengthening energy reserves, including commitments for oil supplies of around 150 million barrels through international cooperation, as well as high-level diplomacy, further solidify Indonesia’s position compared to many other countries,” Hashim said in his statement in Jakarta on Friday. Moving forward, he continued, optimising state revenues through digitalisation and technology-based supervision will be key to further strengthening the national fiscal capacity. For information, Presidential Special Envoy for Energy and Environment Hashim Djojohadikusumo revealed that Indonesia is receiving 150 million barrels of oil from Russia at a special price, resulting from President Prabowo Subianto’s visit to Russia. Hashim explained that the agreement is the fruit of President Prabowo Subianto’s visit to Russia on Monday (13/4). During that visit, Prabowo met with Russian President Vladimir Putin for three hours. In that meeting, Hashim said, Russia initially agreed to immediately send 100 million barrels of oil to Indonesia at a special price. If Indonesia still requires additional supply, Hashim said, Russia will add 50 million barrels of oil to help Indonesia face economic turmoil. Thus, Russia becomes an alternative energy supplier to Indonesia amid the current global energy crisis due to the war between the United States (US)-Israel and Iran. Previously reported, Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia targeted crude oil imported from Russia to be delivered to Indonesia starting in April 2026. Meanwhile, for LPG purchases from Russia, Bahlil stated that finalisation is still in process. The percentage of LPG imported from Russia relative to Indonesia’s total needs is still under discussion. These steps are the government’s strategy to ensure reliable energy supplies amid uncertain geopolitical conditions.