Bessent Blames High Energy Prices On Ukraine

“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 U.S,” Bloomberg reports.

Said Bessent: “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 refined products — so that is creating upward price pressure on a global basis — and then the conflict in Iran.”