G7 asks Indonesia to take part in capping Russian oil prices

Oil refinery illustration. (Source: Pertamina)

Jakarta, IO – The US and the Group of Seven (G7) countries formed a coalition to impose price cap and import ban on Russian oil in a bid to bring down global oil prices which have soared as a result of the Russia-Ukraine war.

A US government official said the G7 has invited many countries to join the initiative, including Indonesia.

“We are trying to build a G7+ coalition and we see Indonesia as a potential partner, given its chairmanship at this year’s G20. We hope Indonesia as a petroleum importer will benefit from lower oil prices,” said the official as reported by Bisnis, Thursday (11/8).

According to him, Russia has greatly profited from the high global oil prices as a result of its aggression of Ukraine, which disrupted the energy supply chains.