New Regulation on oil import: Paving the way for Russian oil
President Prabowo Subianto has just issued Regulation (Perpres) No. 26/2026 about import of crude oil and fuel, which basically allows Lemigas, an public service agency (BLU) for oil and gas testing centre under ministry of energy & mineral resources (ESDM), to import the commodities alongside state oil and gas company Pertamina.
Domestic issues weighed on rupiah, stocks
Bank Central Asia (BBCA), the largest bank in private sector, offered USD bank notes at Rp17,940 on Friday (May 29), moving closer to the new psychological level of Rp18,000 as foreign investors continued selling Indonesian stocks following rebalancing by MSCI and FTSE Russell.
Indonesia-France Trade
Most criticize President Prabowo’s frequent visit to France, which is not a major trading partner for Indonesia. With total trading value (export-import) of around 3 billion euros per annum, France is substantially smaller trading partner than Germany and Italy.
Prabowo in Paris: Episode 4
President Prabowo Subianto is visiting France for the fourth time since taking office, and for the third time this year alone. The unusual frequency of these visits has drawn public attention, particularly because such high-level diplomacy is expected to produce reciprocal benefits for both countries. Yet, the relationship appears asymmetrical, with tangible returns for Indonesia still not fully evident.
Venture capital builds a political shield
Over the past two weeks, digital ecosystem has been flooded with a remarkably synchronized argument. The core message is consistent: failed startup investments should not be criminalized. Venture capital is inherently risky. Innovation cannot survive if executives fear prison every time a startup collapses.
Huawei’s chip ambitions should alarm Indonesia
Recent reports about Huawei developing alternative chip manufacturing methods to challenge Taiwan Semiconductor Manufacturing Company and Samsung Electronics should serve as a wake-up call for Indonesia. The issue is not merely about who makes the fastest chips. It reflects a much larger geopolitical and economic transformation in which semiconductors are becoming the backbone of AI, cloud computing, defense systems and digital sovereignty.
Pulau Katang controversy
The recent controversy surrounding the online sale advertisement of Pulau Katang in the Riau Islands illustrates how rapidly that shift is happening. A Threads account openly offered the 73-hectare island for Rp65 billion, promoting it as suitable for a “private island,” luxury resort, and exclusive tourism development with easy access to Singapore.
Domestic issues continue to weigh on rupiah
Brent crude oil gained 2.15% to US$96.3 per barrel this morning due to reports about fresh US strikes in Iran, but that’s not the main reason why rupiah steadily declines. Domestic major banks are now offering Rp17,850 per USD, moving closer to its new psychological level of Rp18,000.
When Rp100 Billion Feels Personal
In celebration of Eid al-Adha 2026, President Prabowo Subianto distributed 1,098 sacrificial cows worth Rp 100 billion, funded through the state budget. In other words, the cattle were purchased with public money, not from the president’s personal wealth. But the way the program was communicated and perceived has blurred that distinction, making it appear to many as a personal gift from the president to the public.
The coming royalty war in AI economy
The government, through the Directorate General of Intellectual Property (DJKI), is studying the creation of a collective management organization to collect royalties from AI companies that use copyrighted materials to train their models. The proposal would function similarly to the music royalty system, where businesses pay a central institution that later distributes payments to creators.