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View all search resultsSix major international powers said Thursday they were ready "to contribute to" ensuring safe passage through the Strait of Hormuz, though three stressed that any initiative would take place post-ceasefire.
As a result of the war between Iran and the US and Israel, global crude oil prices have increased to above US$100 per barrel, far exceeding the $70 per barrel assumption in the 2026 state budget, which may result in higher energy subsidies.
The government says this year’s fiscal deficit may temporarily exceed the legal limit for the sake of maintaining economic growth should oil prices remain elevated for a prolonged period as the US-Israeli war on Iran rages on.
The US campaign against Iran’s nuclear program is not a mission of peace but a violent maintenance of empire; an attempt to bomb a rival into submission before the logic of deterrence makes the hegemon's presence obsolete.
The progress in the corruption case involving crude oil procurement at state oil and gas company Pertamina for the 2018–2023 period deserves appreciation. Yet this development may represent only the tip of the iceberg in Indonesia’s law enforcement efforts. The sentences handed down to the suspects are considered mild and lack deterrence effect, while the main actor behind the scheme remains elusive amid the recurring scandals surrounding Pertamina.
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