Indonesia will consider 'all of the options' as steep Russian oil discount and G7 price cap loom

• Indonesia isn't ruling out importing Russian oil, President Joko Widodo told the Financial Times.
• "We always monitor all of the options. If there is the country [and] they give a better price, of course," he said.

Indonesia isn't ruling out importing Russian oil as Moscow offers a steep discount while the G7 pushes a price cap on Russian crude.

"We always monitor all of the options. If there is the country [and] they give a better price, of course," President Joko Widodo told the Financial Times.

He added that "there is a duty for [the] government to find various sources to meet the energy needs of their people."

Southeast Asia's largest economy has not traditionally been a big buyer of Russian oil. But Indonesia has seen some fuel cost jump 30% in the last month alone.

Meanwhile, Russia is offering its oil at a 30% discount to the international rate, Indonesia's tourism minister has said.

Indonesia could potentially join other Asian countries including China and India which have shown a willingness to purchase Russian crude while Western countries shun business ties with Moscow due to its invasion of Ukraine.

At the same time, Europe is imposing a partial embargo on Russian oil by the end of the year, and the G7 is pushing for a cap on Russian oil prices that will keep supplies flowing while also limiting the Kremlin's revenue.

Indonesia will have to walk a political tightrope as it is set to host the next G20 meeting this November in Bali. Widodo has invited both Ukrainian President Volodymyr Zelenskyy and Russia's Vladimir Putin to attend.