This Is A Risk That Will Be Faced By Indonesia If You Buy Oil From Russia

Illustration. (Photo: Doc. Antara)

JAKARTA - President Joko Widodo has openly opened up opportunities for Indonesia to buy oil from Russia. Quoted from CNA, this is done to balance the pressure of rising energy costs in Indonesia. "We always monitor all options. If there are countries (and) they give a better price, of course," Jokowi said, quoted via CNA, Monday, September 12. In response to this, the Director of the Center of Economics and Law Studies (CELIOS) Bhima Yudhistira revealed that Indonesia will face three risks if it buys crude oil from Russia. First, there is a risk that European countries and America will reduce imports from Indonesia. "Because some European and US countries imposed many economic sanctions on Russia after there was a geopolitical conflict between Russia and Ukraine," Bhima told VOI, Tuesday, September 13. The second risk that Indonesia must face is the risk of embargo from a western country because Indonesia considers Russian oil to be a support for Ukraine's invasion and the profits of purchased oil will be used by Russia to continue military operations. "The impact of embargo is feared to disrupt trade cooperation, investment and even cut off by Indonesia from the international payment system," continued Bhima. Previously, a member of Commission VII DPR, Syaikhul Islam, asked the government not to increase the price of subsidized fuel oil (BBM) in the near future. According to him, one of the steps the government can take by importing crude oil from Russia. Syaikhul added that the government needs to work on various breakthroughs and policy options so that there is no increase in fuel prices "For example, the latest related to imports of crude palm oil from Russia. Because I'm just afraid that sanctions from western countries are really stupid? Because American allies in Europe also continue to import Russian oil, really!," he said in a working meeting with the Minister of Energy and Mineral Resources in Jakarta, Wednesday, August 24. Just so you know, Russia is said to offer crude oil at a price of 30 percent cheaper than the market price. Syaikhul assessed that if the government decided to import oil from Russia, it could withstand the government's decision to increase fuel prices. "Surprisingly if there is an offer for crude palm oil, which is 30 percent cheaper and we don't take it, how stupid are we, sir! And we hope that with a cheap price there will be no increase in fuel. If necessary, it will go down," he said.