Becent talks about the energy shock: the Ukrainian attack on Russian facilities and the Iranian conflict

On 3 September, the United States finance minister, Becent, stated that the Ukrainian drone attack on Russian energy facilities was one of the reasons for the increase in global energy prices. When asked about the high cost of living in the United States, he referred first to those attacks and then to the war against Iran. On Wednesday in Fox News, Bercent said: “We are currently experiencing an energy shock both as a result of the Ukrainian conflict — because of Ukraine's decision to blow up Russian energy assets and finished oil, which is putting pressure on global price increases — and as a result of the Iranian conflict.” These strikes in Ukraine forced Moscow to extend the ban on diesel exports until the end of this month. This development, combined with the relatively small volume of fuel shipments through the Strait of Hormuz, has led to a tightening of global supply. Becent had previously indicated that the pipeline would eventually help energy suppliers bypass the Strait of Hormuz and that, as suppliers developed alternative energy routes, the Strait would become irrelevant in the coming years。