Jakarta. Indonesia has yet to feel any impact from escalating political tensions between the United States and Venezuela on its imported oil prices, senior government officials said on Monday.

The United States captured Venezuelan President Nicolás Maduro and flew him out of the country in an extraordinary military operation early Saturday. President Donald Trump insisted the US government would run the country at least temporarily and would tap Venezuela's vast oil reserves to sell “large amounts” to other countries.

Maduro and his wife are facing criminal charges in connection with a Justice Department indictment accusing them of a role in narco-terrorism conspiracy.

Chief Economic Affairs Minister Airlangga Hartarto said there has been no significant volatility in oil prices so far.

“We are monitoring oil prices. Even over the past day or two there has been no change, no major turbulence,” Airlangga told reporters in Jakarta on Monday.

Global crude prices are currently hovering at relatively low levels of around $63 per barrel, he said. While Venezuela remains one of the world’s oil-producing nations, Airlangga cautioned that any impact from geopolitical escalation would likely materialize only over the longer term.

“Venezuela still has influence on global oil prices, but for now the impact has not been felt,” he said, adding that the government is coordinating across ministries and preparing contingency measures should there be a sharp shift in global energy prices.

Finance Minister Purbaya Yudhi Sadewa echoed Airlangga’s assessment, saying the situation in Venezuela poses no immediate risk to Indonesia’s broader economic stability.

“If you look at the markets, the impact seems quite distant,” Purbaya said at the Presidential Palace in Jakarta. “The stock market is actually up, which is somewhat unusual, but that’s how the market is seeing it, even slightly positive.”

The Jakarta Composite Index has strengthened in recent sessions, a signal that investors are not pricing in heightened global risk from the Venezuela situation, Purbaya said.

He also expressed confidence that the rupiah would remain stable, noting that Venezuela’s role in the global oil market has diminished significantly due to declining production capacity.

“Venezuela is no longer very significant in the global oil market because its production has fallen,” Purbaya said. “That’s why global crude prices have remained relatively well maintained.”

As a result, he said, the crisis has not affected Indonesia’s oil import costs.

Purbaya added that global supply conditions have been further supported by developments in the United States, where authorities have approved new oil drilling activity in Alaska. The additional supply is expected to help offset any potential disruptions and keep prices in check.

“Some may think supply will fall, but the US has allowed drilling in Alaska, so it doesn’t affect supply,” he said. “Going forward, if increased production is realized, it will be positive for oil prices and global supply.”

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