Treasury Secretary Scott Bessent pointed to Ukrainian strikes on Russian energy infrastructure as a root cause of rising global energy prices on Wednesday, saying the Russia-Ukraine war and the war with Iran have created an “energy shock.”
Bessent, speaking from Asheville, North Carolina, where the Group of 20 finance ministers’ meeting was held this week, told Fox News that “prices are too high” for Americans at the moment. He first pointed to President Joe Biden-era inflation, then shifted to discussing how global conflicts are impacting worldwide energy markets and ultimately putting pressure on American consumers.
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