April 15, 2026 | 12:59 pm
TEMPO.CO, Jakarta - The United States has imposed a military blockade on the Strait of Hormuz amid escalating tensions with Iran since Monday, April 13, 2025. Economist and lecturer at the Jakarta State University, Achmad Nur Hidayat, estimated that this would have an impact on the global and domestic economy.
The impact on the economy stems from increased production costs and logistical supply chain disruptions caused by the U.S. blockade of this vital world energy trade route. "For the business world in Indonesia, this transmission is not only about the price of gasoline at gas stations, but also the surge in industrial raw material costs, most of which still need to be imported using sea transportation," said Achmad in a written statement on Wednesday, April 15, 2026.
As a result, Achmad said, the company's profit margins are increasingly under pressure, ultimately forcing companies to become more efficient. In the worst-case scenario, this situation could lead to job cuts.
The dynamics of this geopolitical situation also have an impact on the continued depreciation of the rupiah over the past week. Based on data from Trading Economics, on Monday morning, April 15, 2026, the rupiah exchange rate crept above 17,110 per U.S. dollar. Since early April, the rupiah has held at 17,000 per U.S. dollar.
According to Achmad, the depreciation of the rupiah reflects capital flight toward safety, also known as the flow of assets to safe havens. One of which is the U.S. dollar. "This depreciation is not just a number on the traders' monitor screens, but a real burden on the public's purchasing power," he said.
He considers external factors or tensions in the Middle East to be the dominant cause of the rupiah's depreciation. This includes the U.S. blockade at the Strait of Hormuz. "However, we must not turn a blind eye to domestic factors such as seasonal demand for foreign currency for debt and dividend payments that further worsen the situation."
Prior to the blockade, President Donald Trump posted a statement on the Truth Social platform stating that the US would blockade ships entering or leaving Iranian ports on April 13 at 10:00 AM Eastern Time. He also stated that the US would blockade the Strait of Hormuz. This U.S. action would be taken following marathon talks in Islamabad over the weekend between U.S., Iran, and Pakistan negotiators, which failed to reach an agreement to end the war in the Middle East.
Read: FAO: World Faces 'Catastrophe' if Hormuz Stays Disrupted
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