Indonesia May Import Oil from Russia, Says Energy Ministry
Jakarta — Indonesia’s Deputy Minister of Energy and Mineral Resources (ESDM), Yuliot Tanjung, has addressed concerns regarding a potential shift in crude oil imports from the Middle East to Russia.
Tanjung stated that any decision to import oil from alternative countries, including Russia, would be a business decision made by PT Pertamina (Persero). One key consideration would be Indonesia’s import requirements, with the government prepared to capitalise on such opportunities should sanctions be relaxed.
“That is a business decision for Pertamina,” Tanjung said during a meeting at the ESDM Ministry office in Jakarta on Friday (13 March 2026). “Whatever is most needed, as long as there is relaxation, we will certainly utilise that process.”
However, the government has not yet conducted a detailed study on the implications of Indonesia importing oil from Russia. “There hasn’t been one,” Tanjung confirmed.
Initially, Indonesia’s government had sought to redirect crude oil imports from the Middle East to the United States. However, the US has recently opened its doors to Russian oil imports.
The United States government took an unusual step on Thursday (12 March 2026) amid global energy market volatility triggered by tensions with Iran, granting temporary permission to purchase Russian oil currently stranded at sea in an effort to ease pressure on world energy supplies.
US Treasury Secretary Scott Bessent described the policy as limited and applicable only for a short period. In a post on platform X, Bessent emphasised that the measure was not intended to broadly reopen Russian oil trade.
He described the policy as “a narrowly designed and temporary measure” applicable only to oil already in transit.
According to CNBC’s information, approximately 124 million barrels of Russian oil are currently at sea at around 30 locations worldwide. This volume is equivalent to approximately five to six days of US oil requirements.
Washington’s temporary authorisation to purchase this oil is expected to help ease energy market volatility that has intensified since the outbreak of tensions with Iran.