Bessent Cites Ukrainian Strikes On Russia As Part Of Reason For Global Energy Shock
"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 in an interview with Fox News.
The comments came after the United States angered some allies who have staunchly supported Ukraine for inviting Russia's finance minister, Anton Siluanov, to the gathering of the Group of 20 nations. The newspaper noted that at similar forums in the past, U.S. and other Western officials left the room when Siluanov addressed his counterparts by teleconference.
Read also: Russia doubles LNG shadow fleet in a year to boost gas exports – BloombergOn Tuesday, September 1, Bessent explained his decision to meet with Siluanov at a press conference.
"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.
The newspaper noted that Bessent's remarks contrast with the position of most U.S. lawmakers, who regard Russia as the aggressor in the war against Ukraine. The Senate passed bipartisan legislation that would require the Trump administration to impose tougher sanctions on Russia.
At the same time, Bessent and President Donald Trump have taken a more accommodating approach to dealing with Russia. In April, the Treasury secretary faced criticism for temporarily lifting sanctions on some Russian oil in an effort to lower global energy prices.
Photo: Office of the President of Ukraine
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