Updated
Updated · Bloomberg · Jul 9
Indonesia Receives 770,000-Barrel Russian Crude Shipment Worth $75 Million After April Deal
Updated
Updated · Bloomberg · Jul 9

Indonesia Receives 770,000-Barrel Russian Crude Shipment Worth $75 Million After April Deal

2 articles · Updated · Bloomberg · Jul 9

Summary

  • Just under 770,000 barrels of Russian crude arrived at Indonesia’s Balikpapan port on June 29, marking the country’s first such import since Jakarta struck an oil deal with Moscow in April.
  • Customs data compiled by Big Trade Data valued the cargo at about $75 million, with Kozmino listed as the loading port and the tanker Sierra carrying the shipment.
  • The delivery signals Russia is expanding its customer base, using disruption tied to the Iran conflict to place more crude with new buyers.

Insights

As the EU sanctions an Indonesian port, can Jakarta's pivot to Russian oil succeed without a wider economic clash with Europe?
Is Southeast Asia's rush for Russian oil a masterstroke for energy security or a risky gamble on a sanctioned global power?
With US waivers enabling Russian oil sales, is Washington undermining its own sanctions and bolstering Moscow's influence in Asia?