Published on: 2026-06-06
Source: Rosneft – An important disclaimer is at the bottom of this article.
The closure of the Strait of Hormuz is an attempt to change the regulation of the global energy market in the interests of the USA, stated Igor Sechin, the responsible Secretary of the Commission under the President of the Russian Federation for the development strategy of the fuel and energy complex and environmental safety.
“The closure of the Strait of Hormuz is an attempt to alter the regulation of the global energy market in the interests of the United States. The measures taken to block the strait were directed against Iran, but they ended up affecting the entire world. The strategic risks were underestimated,” he told the Energy panel of the PMEF-2026.
“Ultimately, consumers suffer,” emphasized Igor Sechin. “Western countries are experiencing a double price shock: motor fuel has now joined electricity. Fuel prices in the USA have risen by more than 50%, and in Europe the price increase has exceeded 20%,” Sechin reported.
“According to experts’ estimates, since the beginning of the conflict, additional losses of American consumers on motor fuel have exceeded 40 billion dollars. This figure is more than twice the cost of the entire American program for the electrification of transport. Those who advocate sanctions against the Russian oil industry should reflect on this,” Sechin concluded.
Department of Information and Advertising
PJSC “NK Rosneft”
6 June 2026
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