US Treasury chief links Ukraine refinery strikes, Iran conflict to $97 oil
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US Treasury Secretary Scott Bessent said Ukrainian strikes on Russian oil infrastructure and the conflict around Iran are driving global fuel prices higher. Brent crude has approached $97 per barrel. His remarks followed a meeting with Russian Finance Minister Anton Siluanov on the sidelines of the G20 finance ministers' meeting.
Key Facts
- US Treasury Secretary Scott Bessent said Ukrainian strikes on Russian energy assets are creating upward pressure on global fuel prices.
- Bessent also cited the conflict around Iran as a second factor behind the energy shock.
- Brent crude has approached $97 per barrel amid the escalation around Iran and attacks on Russian oil infrastructure.
- Bessent made the remarks on Fox News after meeting Russian Finance Minister Anton Siluanov at the G20 finance ministers' meeting.
Bessent's Statement
US Treasury Secretary Scott Bessent said Ukrainian strikes on Russian oil infrastructure are amplifying pressure on global fuel prices. He attributed the overall price rise to two factors: Russia's war against Ukraine and the conflict around Iran. Bessent said Ukraine has decided to undermine Russian energy assets and oil products, creating upward pressure on prices globally. He made the comments in an interview with Fox News.
Oil Price Surge
Global oil prices have risen noticeably amid the escalation around Iran and attacks on Russian oil infrastructure. Brent crude approached $97 per barrel.
G20 Meeting Context
Bessent's statement followed his meeting with Russian Finance Minister Anton Siluanov on the sidelines of the G20 finance ministers and central bank governors meeting.
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