The chief executive of Russia’s Rosneft said on Saturday that the US was attempting to use the closure of the Strait of Hormuz for its own benefits.
“The closure of the Strait of Hormuz is an attempt to reshape global energy market regulations to benefit the United States. The measures taken to block the strait were aimed at Iran, but backfired on the entire world. The strategic risks were underestimated,” Igor Sechin said.
The Russian state-controlled energy company’s top executive also said US energy companies were the main beneficiaries of the key strait’s closure.
“The main beneficiaries, of course, were American companies, who gained non-competitive advantages and the ability to secure high-cost supplies,” Sechin said.
Iran blockaded the Strait of Hormuz, the main route for about a fifth of world oil supplies and other vital goods including fertilisers, after the US and Israel attacked Iran and killed Supreme Leader Ayatollah Ali Khamenei in February. The US has blockaded Iranian ports.
Speaking at the St Petersburg International Economic Forum, Sechin, a long-standing ally of President Vladimir Putin, also said that the OPEC+ group of leading oil producers has lost some of its potential with the withdrawal of the United Arab Emirates from the cartel.
“As a result, the alliance’s production has fallen from 58 to 37 million barrels per day over the past ten years,” he said.
