Ukrainian attacks fueling global ‘energy shock’ – US Treasury secretary (VIDEO) Ukrainian attacks on Russian energy infrastructure have fueled a global “energy shock” and pushed prices higher, US Treasury Secretary Scott Bessent claimed. The disruption has compounded strains caused by the Iran war, he added.

Ukraine has ramped up long-range drone strikes against Russia’s energy sector this year, targeting oil refineries, storage facilities, and export infrastructure deep inside the country. Kiev says the campaign is aimed at weakening Russia’s ability to finance and maintain its military operations.

Speaking to Fox on Wednesday, Bessent said the world is experiencing an energy shock partly because of the Ukrainian strikes. ”Ukraine has decided that they want to blow up Russian energy assets and refined products,” which is “creating upward price pressure on a global basis,” he said.

Bessent:— Clash Report (@clashreport) September 2, 2026 We are going through an energy shock right now. Ukraine has decided that they want to blow up Russian energy assets. That is creating price pressure on a global basis. pic.twitter.com/oXGhLQY2FN The strikes have significantly disrupted Russian refining, according to energy analytics firm Kpler.

It said last week that refinery runs fell to around 3.8 million barrels per day in July, their lowest level in more than two decades. Refined-product exports dropped to around 1.2 million barrels per day, down from 2.3 million a year earlier. Moscow has accused Kiev of increasingly targeting civilian infrastructure amid Ukrainian setbacks on the battlefield.

Russia has retaliated with massive drone and missile strikes on Ukraine’s military-linked infrastructure and shipping facilities, effectively crippling the country’s main export route through its Black Sea ports. The Iran war has also strained global energy markets, according to Bessent.

Before the US and Israel attacked Iran in February, around a fifth of global energy supplies passed through the Strait of Hormuz. Tehran’s subsequent restrictions on commercial shipping, coupled with the US naval blockade, have disrupted flows and pushed prices higher.

Washington has stepped up economic pressure on Tehran. Bessent warned on Sunday that the US could unleash “financial violence” against Iran, threatening new secondary sanctions every week against Tehran and those doing business with it.

According to two US officials, American military forces escorted 40 commercial vessels carrying approximately 18 million barrels of oil through the Strait of Hormuz on Tuesday while striking 60 targets and reportedly neutralizing various threats. These officials described the operation as a peak in recent activity, noting that it occurred amid continued exchanges of strikes between the US and Iran, although the source notes that the broader conflict lacks a near-term resolution.

United States President Donald Trump has suggested renaming the Strait of Hormuz after himself, reasserting that the waterway is under Washington’s control despite near-daily Iranian attacks on ships in the area. Trump’s suggestion on Wednesday came less than 24 hours after the US struck several targets in Iran, killing at least four people, including two children, at a wedding in the southern city of Sirik. “Now that we have it under USA control, should we change the name Hormuz Strait to TRUMP STRAIT???” Trump wrote in a social media post. “Like America itself, it would be ‘hotter’ than ever before!” Iran responded to Tuesday’s attack with missile launches against US bases in the region. The fighting pushed oil prices upwards by around 4 percent. Despite repeated claims by US officials that the Strait of Hormuz is now open and millions of barrels of oil are transiting through it daily, oil prices have not fallen in recent weeks. Iran continues to maintain that the waterway is closed and under its control. On Wednesday, Saudi Arabia accused Iran of carrying out a strike on an oil tanker that killed two people. The United Kingdom Maritime Trade Operations (UKMTO), a monitoring agency affiliated with the British Royal Navy, has been reporting attacks on vessels in Hormuz almost every day.

In the US, the price of petrol is rising. It reached $4.12 per gallon (3.8 litres) on Wednesday, according to the American Automobile Association (AAA), up from less than $3 before the war started on February 28. When Trump and Israeli Prime Minister Benjamin Netanyahu started the conflict by attacking Iran and killing its supreme leader earlier this year, the US president promised that the war would last for six weeks. But the promised quick end to what Trump initially dubbed a “little excursion” never materialised. The conflict entered its seventh month last week. Still, Trump has continued to claim victory and control over Hormuz, repeatedly claiming that Iran has been defeated militarily despite its ability to strike back against US interests in the region. After the US strikes on Tuesday, Trump sternly warned Tehran against retaliating, saying that Iran would be “hit again at a much harder and higher level” if it responds. But within hours, Iran’s military fired missiles and drones at US bases in Bahrain, Jordan and Iraq. The “Trump Strait” suggestion on Wednesday is the latest push by the US president to assert control over a conflict that critics say was a strategic misstep that is turning into a quagmire. Last month, Trump said he views the Strait of Hormuz as “American territory”. Last week, he unilaterally renamed Lake Ontario, which borders both the US and Canada, as “Lake America” due to the ongoing US trade disagreements with Canada.

Saudi Arabia has formally attributed the incident involving the *Sidr* tanker, resulting in two reported fatalities, to Iranian actions during its transit through the Strait of Hormuz. Regional governments, including Kuwait and Qatar, have characterized the event as a violation of international maritime law, while the vessel’s owner, Bahri, has confirmed the occurrence of a security incident and ongoing coordination with authorities.

The attack is described as part of a broader series of incidents linked to the ongoing conflict between the US, Israel, and Iran.