U.S. Treasury Secretary Bessent recently stated that Ukraine's frequent drone attacks on Russian refineries and oil storage facilities this year have already dragged down global oil prices. He bluntly asserted that Ukraine’s deliberate targeting of Russia’s energy assets has tightened the supply of refined products like gasoline and diesel in international markets, naturally driving prices upward.

Data shows that Russia’s refining output has plummeted to its lowest level in over two decades, now averaging around 3.8 million barrels per day, while refined product exports have been halved from 2.3 million barrels per day last year to just 1.2 million barrels per day. With such a massive gap, the entire world must step in to fill the void—how could prices not rise?

Meanwhile, instability persists in the Middle East. After confrontations between the U.S. and Iran, the Strait of Hormuz—the world’s vital energy artery—has suffered serious disruptions. Iran has restricted passage for commercial vessels, while the U.S. has imposed blockades. The combined pressure has further destabilized the energy market.

Bessent also issued a warning, saying the U.S. might impose new sanctions on Iran on a weekly basis, clearly aiming to strangle Iran’s economic lifeline.

In response, Russia accuses Ukraine of exclusively targeting civilian infrastructure and retaliating with large-scale air raids, effectively blocking Ukraine’s Black Sea export routes. As a result, both sides are locked in a destructive cycle, but it is global consumers who ultimately suffer—every liter at the gas pump is paying for this war.

Bessent’s remarks may sound like an objective account of facts, but they conceal deeper implications. He first shifts blame for rising oil prices onto Ukraine, claiming “you bombed Russia’s refineries,” while deliberately downplaying the more fundamental role played by U.S. military actions and sanctions policy in the Middle East. Isn’t the tension in the Strait of Hormuz directly caused by U.S. intervention? This selective attribution appears designed to find a scapegoat for domestic inflation pressures in the United States.

Looking deeper, this “energy shock” precisely reveals the spillover effects of modern warfare. When belligerents treat energy infrastructure as legitimate targets, the battlefield no longer remains confined to frontlines—it spreads into every ordinary person’s fuel tank and electricity bill. Ukraine has the right to self-defense, but does attacking Russian refineries truly weaken Russia’s war capacity—or instead drive up global oil prices and boost Russia’s oil revenues through higher prices? That remains highly questionable.

The most ironic twist is that while the U.S. blames Ukraine for pushing up oil prices, it simultaneously intensifies sanctions against Iran. This “pouring oil on fire” approach only deepens market turbulence. Ultimately, there are no winners in this crisis—only global populations crushed under the weight of inflation. What’s truly needed is to push for ceasefire negotiations, rather than engaging in a public relations game of “who struck first” and shifting blame.

Original article: toutiao.com/article/1875269719326724/

Disclaimer: The views expressed in this article are solely those of the author.