JK Warns of Economic Impact of US-Israel Attacks on Iran; Oil Prices Rise and Fuel Shortages Loom
Jakarta — Vice President Jusuf Kalla, who served as the tenth and twelfth Vice President of the Republic of Indonesia, has warned of the economic consequences resulting from Israeli and American attacks on Iran.
He assessed that the immediate impacts would be a surge in oil prices and disruption to logistics routes between the Middle East and various nations, including Indonesia. “Our exports to Europe will face problems because all this creates fear, everyone is preparing for such scenarios,” he stated when met at his residence in Kebayoran Baru, South Jakarta, on Sunday, 1 March 2026.
Kalla estimated that Indonesia’s fuel reserves currently average only enough supply for approximately three weeks. Should the conflict extend beyond this period, Indonesia risks encountering fuel shortages. Supplies from countries such as Saudi Arabia, Iran, and Kuwait are potentially at risk of disruption, although alternative supplies through Singapore remain a possibility.
“That is the effect, amongst other things, alongside our trade relations being severed in the Middle East. Because it is not only Iran — Iran is attacking Kuwait, attacking Doha, attacking Dubai because American military bases are located there. But the effects ripple to those countries,” he explained.
Israel launched strikes on Tehran, Iran, on Saturday morning, 28 February 2026. Following the attacks, Israel closed its airspace and declared a state of emergency. Israeli military spokespeople stated the strikes were a preliminary measure to eliminate threats to the nation.
Meanwhile, news agency Agence France-Presse reported two explosions heard in Tehran. The United States was reported to be involved in the strikes, according to various US officials and other sources with knowledge of the operation.
The attacks occurred as the United States deployed a large naval fleet of fighter jets and warships to the region to pressure Iran into reaching an agreement regarding its nuclear programme.
News agencies Tasnim and Fars have since confirmed the death of Ayatollah Ali Khamenei. However, details surrounding his death have not been disclosed. Following Khamenei’s death, Iran declared 40 days of mourning and seven days of national holidays.