Bessent partly blames Ukraine for ‘energy shock’ pushing up prices
Bessent said Ukrainian strikes and the Iran conflict are driving higher global energy prices, which he called an energy shock.
- On Wednesday, Treasury Secretary Scott Bessent blamed Ukraine's strikes on Russian energy infrastructure for creating a global "energy shock" and contributing to rising fuel prices worldwide.
- Speaking at the G20 meeting in Asheville, North Carolina, Bessent conceded "prices are too high" while also identifying the conflict with Iran in the Strait of Hormuz as a factor impacting energy markets.
- Bessent noted that "the bottom 25% of wage earners' wages went up 4.7%" and highlighted Chevron's $7 billion investment in Venezuela as evidence of economic relief efforts.
- The remarks drew swift backlash from analysts; Max Boot accused Bessent of "literally blaming the victim," while CNN chief national security analyst Jim Sciutto questioned if the administration aims to save Russian industry.
- Critics including Nicolas Tenzer and The Dispatch's Jonah Goldberg argued the administration's stance repeats narratives favorable to the Kremlin, potentially undermining efforts to restrict Vladimir Putin's ability to fund his invasion.
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35 Articles
Scott Bessent gives Ukraine a co-debt in the price increase in energy. Their attacks on Russian oil plants would have put an additional strain on the market.
US Treasury Secretary Scott Bessant said that Ukraine's attacks on Russian oil infrastructure are causing a global energy shock and raising world fuel prices, The New York Times reports, News.bg reports. According to him, Ukraine's actions against Russian energy facilities have become one of the key factors destabilizing the global energy market. Bessant expressed his position on Fox News after a bilateral meeting with Russian Finance Minister…
Cause And Effect Of High Diesel Prices - LewRockwell
—– Writes Moon of Alabama: The Trump administration has yet to learn of cause and effect … Bessent Blames High Energy Prices on Ukraine’s Russia Strikes (archived) – Bloomberg, Sep 2 2026 Treasury Secretary Scott Bessent said Ukrainian drone strikes on Russian energy facilities were one reason for rising global energy prices, citing those attacks before mentioning the war against Iran when asked about the elevated cost of living in the US. “We a…
What a turn!. US Treasury Secretary Scott Bessant unexpectedly blamed Ukraine for the energy crisis and global price increases: "We are currently experiencing an energy shock due to the war and Ukraine
What a turn!US Treasury Secretary Scott Bessant unexpectedly blamed Ukraine for the energy crisis and global price increases:"We are currently experiencing an energy shock due to the war and Ukraine. Because Ukraine has decided...
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