Indonesia secures 150 million barrels of oil from Russia

Indonesia has secured a commitment from Russia to supply up to 150 million barrels of oil at a special price following President Prabowo Subianto's recent visit to Moscow, according to his special envoy for energy and environment, Hashim Djojohadikusumo, Report informs via Tempo.

Speaking at the Economic Briefing 2026 in Jakarta on Thursday, Hashim said the agreement would allow Indonesia to store the oil domestically as a buffer against potential economic shocks.

"Indonesia has now secured a commitment from the Russian government for 150 million barrels that we can store to anticipate economic volatility," he said.

Hashim explained that the deal was a direct outcome of Prabowo's visit to Russia on April 13, during which he held a three-hour meeting with Russian President Vladimir Putin.

According to Hashim, Russia initially agreed to promptly supply 100 million barrels of oil at a discounted price. If Indonesia requires additional volumes, Moscow has committed to providing a further 50 million barrels.

"That's why he went to Moscow, not for leisure. He met President Putin for three hours and secured this commitment," Hashim said.

The agreement positions Russia as an alternative energy supplier for Indonesia amid a global energy crunch driven by escalating geopolitical tensions, including the conflict involving the United States, Israel, and Iran.

Earlier, Energy and Mineral Resources Minister Bahlil Lahadalia said Indonesia is targeting to begin receiving crude oil imports from Russia as early as April 2026.

Meanwhile, negotiations on liquefied petroleum gas (LPG) imports from Russia are still ongoing. The proportion of LPG imports from Russia relative to Indonesia's total demand remains under discussion.

The Indonesian government says these measures are part of a broader strategy to ensure energy security amid global uncertainty.

"We need diversification. God willing, our crude supply will continue to improve," Bahlil said.