The US uses energy as political weaponry, and its ‘golden era’ of power may just become a ‘generation of power colonialism’ for all different market contributors, Igor Sechin, the manager executive of Russia’s most significant oil manufacturer Rosneft, said at a discussion board in Russia on Thursday.
There’s no doubt that the U.S. is using power as a political weapon on a mass scale, Sechin stated on the St. Petersburg World Financial Discussion board today, as published on Rosneft’s website.
Imposing penalties and even the threat of sanctions has a harmful effect at the world energy ecosystem, Sechin mentioned, criticizing The united states’ solution to power dominance.
“The golden era of American power is now going on,” U.S. President Donald Trump said last month, while U.S. officers have begun to call the U.S. exports of liquefied natural gas (LNG) as “freedom gas.”
The US has always been blaming Russia for using power, particularly pipeline Russian gas to Europe, as a political weapon.
Now the head of Russia’s largest oil producer and a close friend of President Vladimir Putin is returning the favor by way of accusing the U.S. of wanting to crush competitors and refugee states by means of imposing penalties.
The Texas oil growth was the results of new sanctions that the U.S. slapped on Iran and Venezuela, sharply lowering their respective oil production, Sechin stated, noting that up to 2.5 million bpd of oil could be subject to sanctions this year, up from 1.5 million bpd last year
Earlier this week, Sechin—who has criticized Russia’s engagement within the OPEC+ deal in the past—questioned the Russian reasons of adhering to the cuts, announcing that the U.S. would take market share away from of Russia if the OPEC or non-OPEC deal is delayed.