After India, , the largest economy in Southeast Asia, also supports Russian ruble settlement. Who is it?
On March 28, the CEO of Indonesian State Oil Company said that he intends to bypass the West to purchase crude oil from Russia. What’s funny is that what is surprising is not that Indonesia bypasses the West, but that Indonesia actually has the money to buy oil.
Why do you say so?
Because Indonesia experienced a serious fiscal deficit last year, it reached 63.3 trillion rupiah in the first two months alone.
Then why do you have money to buy oil again?
Indonesia just released its latest data. From January to February this year, the surplus was 19.7 trillion rupiah, or about US$1.37 billion. The comparison between
is too obvious. What can Indonesia do?
Now, in addition to oil and natural gas, other energy sources are also in short supply. Indonesia is also a major resource exporter, rich in coal, lithium hydroxide, and other resources, exporting a large amount of high prices, making a big profit.
But why at this critical moment, it chooses Russian oil?
Because from India, Indonesia has seen the opportunity to buy on dips, and Indonesia is even more urgent than India for low-priced oil.
Why is Indonesia more urgent?
inhibits domestic inflation . Compared with neighboring countries, Indonesia's inflation is actually not serious, and the core reason is that Indonesia does not allow domestic oil and power companies to raise prices to stabilize prices.
is similar to India. Indonesia relies heavily on oil imports. How can companies not rise?
As a "reward" for companies not to raise prices, Indonesia plans to spend 134 trillion Indonesian rupiah for energy subsidy this year. But in January and February alone, 1/6 of it has been spent. So although Indonesia has a surplus in the first two months, it is because of this subsidy, and Indonesia is worried that it will be spent soon. Therefore, it will naturally not miss the opportunity to buy low-priced and high-quality oil.
Then Indonesia accepts rubles settlement, will US dollar oil collapse?
This is not true. And Indonesia has kept a hand in this issue. Although I am buying Russian oil, I plan to pay and settle the settlement through India.
When it comes to buying Russian oil, Indonesia's idea is more rational and a very pragmatic buyer's mind. But whether it is a country or an enterprise, if it is too dependent on imports, there are still certain uncertainties. If you want to avoid being stucked by others, you still have to rely on core resources, technology or products.
