Will Indonesia Buy Russian Oil? Here's Bahlil's Response
Indonesia’s Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, addressed questions about the possibility of Indonesia purchasing oil from Russia. This comes as the government seeks alternative supply sources to anticipate the impact of geopolitical tensions in the Middle East.
Bahlil assured that the government has secured new crude oil supplies to reduce dependence on the Middle East region. Unfortunately, Bahlil was reluctant to explicitly name the source country.
“Please, friends, let me repeat. Our crude imports from the Middle East are 20%. And now we have found new crude sources besides the Middle East. Please don’t ask where from. Clearly, Insha Allah, everything is in place,” Bahlil emphasised when asked if they would buy oil from Russia, during a meeting at the Coordinating Ministry for the Economy office in Jakarta on Friday (27/3/2026).
Nevertheless, Bahlil acknowledged that oil tanker ships are currently detained and facing difficulties passing through the Strait of Hormuz following its closure by Iran.
“We are still communicating continuously. It’s not easy for us to figure out how to get our ships out of the Strait of Hormuz. But we are building ongoing communication,” he explained.
Despite global supply chain challenges, Bahlil guaranteed that the availability of fuel oil (BBM) and LPG domestically remains secure and meets national minimum standards. He urged the public not to panic but to practise conservation.
“Our BBM stocks are Insha Allah in a safe condition. Minimum standards. We know that 70% of our LPG is imported. But up to today, the situation is clear. The ships we purchased from several countries are still on track,” Bahlil concluded.
Philippines Imports 700,000 Barrels of Oil from Russia
The Philippines reportedly imported 700,000 barrels of oil from Russia. This follows the country declaring a national energy emergency.
A source familiar with the transaction told AFP on Thursday (26/3/2026) that the Sierra Leone-flagged vessel named Sara Sky arrived on Monday carrying high-quality crude oil from Russia’s ESPO pipeline route.
Shipping documents show the cargo recipient is Petron Corp, the sole operator of the refinery in the Philippines. The source requested anonymity as they were not authorised to speak to the media.
The Philippines heavily relies on fuel imports, while costs have surged to all-time highs since the US-Israel war with Iran triggered the partial closure of the vital Strait of Hormuz route.
AFP monitoring confirmed that Sara Sky docked at Limay port, just outside Manila, where Petron’s refinery is located. This shipment is believed to be the first Russian oil delivery to the Philippines in the last five years.
Last week, Petron CEO Ramon Ang told AFP that his company was “in talks” for the possibility of buying Russian oil. However, on Thursday, he declined to confirm the arrival of that cargo.
Meanwhile, Philippine President Ferdinand Marcos stated that the government is expanding its search for fuel sources as domestic stocks are estimated to last only 45 days.
“We are not only approaching our traditional oil suppliers; we are also exploring other sources unaffected by the ongoing war in the Middle East,” he said in a press conference on the energy emergency.
US Imports Russian Oil
Some time ago, the US Government took an unusual step amid global energy market turmoil due to the war with Iran. Washington on Thursday (12/3/2026) granted temporary permission to purchase Russian oil currently stranded at sea, aiming to ease pressure on global energy supplies.
US Treasury Secretary Scott Bessent said the policy is limited and only applies for a short period.
In a post on platform X, Bessent emphasised that this step is not intended to reopen broad Russian oil trade.
He described the policy as a “narrowly tailored and temporary measure” that only applies to oil already en route.
According to information obtained by CNBC, there are currently about 124 million barrels of Russian-origin oil at sea in around 30 locations worldwide. That volume is equivalent to about five to six days of US needs.
Washington’s move to temporarily allow the purchase of that oil is expected to help alleviate energy market volatility that has increased since the outbreak of the war with Iran.