Russia Stops Fuel Export Faucet For Up To 6 Months, Secretary General Of KESDM: We Are Still Safe
JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) has opened its voice regarding Russia's decision to close the fuel export tap from March 1, 2024, to the next 6 months.
The Secretary General of the Ministry of Energy and Mineral Resources, Dadan Kusdiana, ensured that domestic oil supply was still safe so that the decision to withhold exports over the next 6 months would not affect Indonesia.
"We are still safe from the crude side (treal oil: Dadan said briefly when met at the Coordinating Ministry for Economic Affairs Building, Wednesday, March 6.
Just so you know, previously Russia announced an export ban as of March 1, 2024. Quoted from Reuters, the decision was taken with the aim of offsetting increasing demand from consumers and farmers.
In addition, to anticipate the maintenance plan of several of its oil refineries. This has also been confirmed by Deputy Prime Minister spokesman Alexander Novak.
"In order to keep up with excessive demand for oil products, steps are needed to help stabilize prices in the domestic market," Alexander Novak said.
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This export restriction is not the first time this has happened.
VOI noted that Russia had previously done the same thing from September to November 2023 to address price increases in the country and supply shortages.