Indonesia has rejected Russian oil for years and is set to buy it again in September, even as the country remains subject to numerous international sanctions.
The three traders Reuters Indonesia’s state-run oil refinery Pertamina has added Russian crude oil to its bid list for September crude purchases.
Indonesia had not purchased Russian oil long before the Kremlin’s full-scale invasion of Ukraine in 2022, but the outbreak of war has further discouraged it from buying Russian oil.
Indonesia did not join the anti-Russia sanctions, which included the price cap and the EU embargo on Russian oil.
Since then, countries including China, India and Turkey have increased their imports, benefiting from the influx of cheaper Russian oil on international markets.
According to the source, Pertamina has requested the supply of Russian Urals crude, as well as Kirkuk, Jubilee and Al-Shakin acid crudes. The Russian crude is expected to arrive at the Chirachep refinery between September 15 and 17.
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One of the sources said Pertamina would only complete the deal if Russian crude was sold at a price within the price cap.
In December 2022, Western countries sought to cap Russian oil prices at $60 a barrel, minimizing Moscow’s revenue stream.
The price cap would prohibit shipping companies, insurers and reinsurers from handling cargoes of Russian crude around the world unless they were sold below the price cap.
A spokesman for Permatina’s refining division said on Tuesday the company complies with relevant regulations when buying Russian crude and only purchases crude that meets refinery specifications.
“Any purchases of crude oil from Russia will be made under a price ceiling regime,” spokesman Hermuncia Nasroen said.
by The Moscow Times, Pertamina was offered to buy Russian crude oil at a 30% discount in 2022 but did not go ahead with the deal.
