“We are always looking at all options. Of course we will buy if we get a better price,” Widodo said in an interview with the newspaper when asked if Indonesia would buy oil from Russia.
Earlier this month, Widodo raised subsidized fuel prices by 30% and said raising prices was his last option, due to financial pressures that sparked protests in the country of 270 million people.
But any move to buy Russian crude at prices higher than the ceiling agreed upon by the G7 nations could expose Indonesia to US sanctions.
In August, Tourism Minister Sandiaga Ono said Indonesia had received an offer to buy Russian crude at a 30% discount.
Subsequently, the state oil company, Pertamina, said it was looking into the risks of buying Russian oil.
Indonesia, Southeast Asia’s largest economy, posted an annual inflation rate of 4.69% in August, above the central bank’s target range of between 2 and 4%, for the third consecutive month due to higher food prices.