US Treasury secretary blames Ukraine for global rise in energy prices
US Treasury Secretary Scott Bessent has said that Ukrainian strikes on Russian oil infrastructure are causing a global energy shock and driving up fuel prices worldwide.
Source: The New York Times
Details: Bessent said that Ukraine's actions targeting Russian energy facilities have become one of the key factors destabilising global markets.
He made the remarks on Fox News after a bilateral meeting with Russian Finance Minister Anton Siluanov on the sidelines of the G20 finance ministers' summit.
"We are going through an energy shock right now due to both the war in Ukraine – because Ukraine has decided that they want to blow up Russian energy assets and refine products, so that is creating upward price pressure on a global basis. And then the conflict in Iran. And the conflict in Iran will end," Bessent said.
Against this backdrop, US diesel prices have approached record levels, while the price of Brent crude on global markets has risen to around US$97 a barrel.
The global energy shock was primarily caused by the start of the US war against Iran, but US President Donald Trump's administration has decided to shift part of the blame onto Ukraine.
Bessent's remarks contrast sharply with the position of most US lawmakers, who regard Russia as the clear aggressor.
Washington's decision to invite Siluanov to the G20 meeting, where Bessent held bilateral talks with him, has also drawn criticism from partners.
At a press conference, Bessent publicly rejected criticism from allies and defended direct contacts with a representative of the aggressor state.
"Unfortunately, this horrible conflict between Russia and Ukraine — if the sides don't talk, if we are not engaged, then how can it be solved? I know that some Europeans had a sour taste, but I think it's very important to engage," Bessent said.
Meanwhile, Russian leader Vladimir Putin publicly expressed solidarity with Iran this week, praising the Iranian regime for its "courage and resilience".
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