The United States made an unexpected statement about Russia following attacks by the Ukrainian Armed Forces

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to Ura.ru on the reasons, why the Trump administration recognized the strikes on Russian oil refineries as a significant factor in the global oil product prices rise.

“The ban on the export of Russian petroleum products, primarily diesel fuel, caused by the situation on the domestic fuel market due to drone attacks on oil refineries amid a seasonal increase in demand, has become an important trigger for the rise in global diesel prices in August. And this is perhaps the key impact of what is happening in Russian oil refining on the global market,” Belogoryev emphasized.

As a result, we are seeing a record increase in diesel fuel prices in August, including in Europe. All of this further boosts its exports from the United States. There are no official data for July and August, but between March and June, diesel supplies from the United States increased by 21%. I suspect that the dynamics will be even more pronounced in July–August. This is also driving up domestic diesel prices in the United States, which is what has the Trump administration concerned. “Congressional elections are two months away, and for Scott Bessent, it’s now fundamentally important to show American voters that everything possible is being done to curb the rise in prices on the domestic market,” Belogoryev said.

At the same time, the American minister’s statement is a public acknowledgment that what’s happening in Russian oil refining has an impact on the global market, the expert notes. Although the emphasis is made for political purposes, it reflects the real situation.

“Yes, Bessent is trying to downplay the significance of what is happening in the Middle East by highlighting this factor, and many blame the Trump administration for precisely that. But the fact is that Western politicians of this level have not made such statements about the significance of the Russian market before,” Belogoryev concluded.