Indonesia summoned officials from Meta and Google over non-compliance with social media restrictions for children under 16 that went into full effect last week, a minister said in a video statement published on Tuesday.

Indonesia will require platforms to deactivate "high ​risk" social media accounts for under 16s, according ​to a ministerial regulation issued earlier this month.

Initially, the government budgeted Rp 381.3 trillion (US$22.5 billion) ​to pay for energy subsidies and also compensate state energy firm Pertamina and utility ​company PLN for their efforts to keep some fuel prices and electricity tariffs at an affordable level.

"The price of jet fuel comprises both the crude oil component and the refinery component, both of which have increased significantly in recent weeks," the company said in a statement.

The proposed reforms were unveiled after index provider MSCI warned in late January that the country was ​at risk of being downgraded amid concerns about a lack of transparency around stock ownership and ​trading.

India sources most of its palm oil from Indonesia and Malaysia, while soy oil and sunflower oil are imported mainly from Argentina, Brazil, Russia and Ukraine.

Oil prices spiked and stocks sank on Thursday after Donald Trump reiterated that US forces would hammer Iran for another two to three weeks but offered no solution to the closure of the Strait of Hormuz that has crippled global markets.

Asian stock markets including Jakarta rallied Wednesday after US President Donald Trump said the Middle East war would be over in up to three weeks and his Iranian counterpart said Tehran had "the necessary will" to bring it to an end.