Iran Closes Strait of Hormuz: Energy Minister Bahlil Reports to President Prabowo

Jakarta, CNBC Indonesia – President Prabowo Subianto has summoned Energy and Mineral Resources Minister Bahlil Lahadalia to discuss the impact of the Strait of Hormuz closure by Iran on the energy sector.

When asked about the report he would present to President Prabowo, Bahlil indicated he would explain the geopolitical situation and the impact of the Strait of Hormuz closure by Iran.

“It probably concerns the current geopolitical situation, relating to the closure of the Strait of Hormuz by Iran. Because of this we need to anticipate global oil supply, given that we are still importing 1 million barrels per day,” said Bahlil at the Presidential Palace Complex on Monday 2 March 2026.

On this occasion, Bahlil also stated he would convene a meeting with the National Energy Council (DEN) at the Energy and Mineral Resources Ministry for further mitigation regarding the Strait of Hormuz closure by Iran tomorrow. He could not yet confirm what mitigation measures would be implemented, given the potential for rising oil prices.

“Gradually, some price changes are already occurring upwards,” said Bahlil.

However, according to him, to date there has been no impact from this price increase on fuel subsidies. He also affirmed that fuel oil stocks currently remain sufficient for the next 20 days. “Still sufficient for 20 days,” he said.

“So far there is no problem, but global prices will be corrected when geopolitical conditions continue to heat up in the Middle East,” he said.