Jakarta. Chief Economic Minister Airlangga Hartarto on Thursday outlined new rules governing export earnings from natural resource commodities under Government Regulation No. 21/2026, part of the government’s broader effort to strengthen Indonesia’s domestic financial system and improve oversight of commodity exports.

“The obligation for natural resource exporters is to place 100% of export earnings within Indonesia’s financial system, with a compliance target of 100%,” Airlangga said at his office in Jakarta.

Under the new framework, the government will apply different retention requirements for the oil and gas sector and non-oil commodity exporters.

Oil and gas exporters will be required to retain 30% of export earnings in Indonesia’s financial system for three months.

Meanwhile, exporters from non-oil sectors must place 100% of export proceeds in special accounts at state-owned banks for 12 months.

“Natural resource exporters are required to place export earnings -- for the oil and gas industry, 30% retention for three months, and for non-oil sectors, 100% retention for 12 months -- in special accounts within Indonesia’s financial system,” Airlangga said.

He added that export earnings would generally be required to pass through state-owned banks, although the government would provide limited exemptions for mining-sector transactions linked to bilateral trade agreements or special arrangements.

“For bilateral trade agreements or specific arrangements in the mining sector, the minimum retention requirement is 30% for three months, and those funds may be placed in private banks,” Airlangga said.

He also said the government had lowered the mandatory foreign-exchange conversion requirement into rupiah from 100% to a maximum of 50%.

According to Airlangga, the policy is necessary because Indonesia continues to face global economic uncertainty, while export performance remains one of the country’s key economic buffers.

The government wants export revenues to generate greater benefits for the domestic economy, he said.

Another major component of the policy requires exports of strategic natural resources to be conducted through a single gateway under Danantara Sumber Daya Indonesia.

Airlangga said the system is intended to strengthen supervision over exports and export earnings, improve trade-data integration, and reduce invoice manipulation practices.

The government has designated three main strategic commodities under the policy: coal, palm oil, and ferroalloys.

Implementation will be phased in gradually.

During the first phase, exporters will still conduct transactions directly with overseas buyers, but export documentation must already pass through Danantara Sumber Daya Indonesia.

Full implementation of the centralized export system is targeted for no later than Jan. 1, 2027.