Indonesia, Southeast Asia’s largest economy, recorded 4.69 percent annual inflation rate in August, above the central bank’s target of 2-4 percent, due to high food and energy prices.
The option to buy Russian oil was first hinted by Tourism and Creative Economy Minister Sandiaga Uno who said that Indonesia has been offered Russian oil at 30 percent discount. Meanwhile, state-run energy firm Pertamina said it was reviewing the risks of buying Russian oil.
Read: G7 asks Indonesia to take part in capping Russian oil prices
On potential US sanctions should Indonesia decides to buy Russian oil, Sandiaga jokingly commented: “There are those who disapprove because they are afraid that Indonesia will be embargoed by the US. Well, let it be. If we are embargoed, the worst thing that could possibly happen is we can no longer eat McDonald’s.” (rr)