Assistant Secretary of State: Reducing the selling price of Russia's energy resources is in our interests

Assistant Secretary of State: Reducing the selling price of Russia
# 01 June 2023 20:47 (UTC +04:00)

We need to understand what Russia has done to Ukraine in the last 8 years, especially what has been done in the last year, said Geoffrey Pyatt, Assistant US Secretary of State for Energy Resources, who is on a visit to Azerbaijan, APA reports.

He said that President Putin continues this war based on the income from oil and gas resources: "At the same time, we announced the most comprehensive package of sanctions applied to Russian oil and gas at the G7 summit. Before this war, Russia was one of the largest oil and gas exporters in the world. If we were to completely withdraw Russian gas from the global market, it would have a serious impact on the global economy. Unfortunately, this is a harsh reality. So since the beginning, we have expected a balancing act in sanctions, so that we have severely limited Russia's resources to buy drones and other weapons, but at the same time we have ensured the ability to keep oil and gas products on the market. Last week at the G7 summit, we clearly stated our message to completely eliminate dependence on Russian energy in the future. We want to make sure that all investments that will allow the development of Russia's energy capabilities in the future will be limited.

A few months ago, when I was in Delhi, I also stated in my conversation with the Indian energy minister that the complete reduction in the selling price of Russia's energy resources is in our political interests. Because this complicates Russia's financial capabilities, a large part of Russia's state budget is formed by revenues from the sale of oil and gas. According to estimates, by 2030 Russia's incomes will decrease by up to 50%, imagine what this means for living standards. This will have serious consequences for the Russian people."