Media update

Indonesia plans US$14 billion in new downstream industrial projects

The new pipeline builds on an earlier batch of 20 downstream industrialisation projects, primarily in energy, mining, and agriculture, overseen by sovereign wealth fund Danantara. Some of those projects have already broken ground, while others are scheduled to begin next month, Bahlil said. Total investment for the initial batch is estimated at $26 billion.

A third way for Indonesian foreign policy

On 19 February, US President Donald Trump and Indonesian President Prabowo Subianto met in Washington to sign the “Implementation of the Agreement Toward a New Golden Age for the US-Indonesian Alliance.” The term “alliance” sits uneasily with Indonesia’s law on foreign relations, which mandates a non-aligned foreign policy.

Indonesia eyes oil purchases from Russia, media report

Bahlil Lahadalia said the move was considered after the rise of crude oil prices following conflict in the Middle East and the United States issuing a 30-day waiver for countries to buy sanctioned Russian oil and ⁠petroleum products stranded at sea.

Indonesia tightens rules on dollar-buying as war spurs outflows

Cash purchases of foreign currency against the rupiah will be limited to US$50,000 per buyer per month, down from US$100,000, starting April, the central bank said. Thresholds for forwards and swaps were increased. Supporting documents will also be required for outgoing FX fund transfers of US$50,000 and up, from US$100,000 previously.

Indonesia firms in palm oil fraud probe supplied fuel majors

Indonesian companies targeted in a palm oil fraud probe supplied European firms including Italian energy giant Eni and Finnish sustainable aviation fuel leader Neste, an investigation by AFP and SourceMaterial has found. The links raise fresh questions about supply chains in the biofuel sector, experts said, and follow persistent allegations of fraud involving palm oil products used as fuel feedstocks.

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