CEO of Rosneft Criticizes Sanctions for Harming Global Market
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Doha, Dec 8 (NationPress) Sanctions enforced by the US and its partners are damaging key aspects of the global market, particularly in the energy sector, stated Igor Sechin, the CEO of Rosneft, during his address at the Doha Forum.
The head of Russia's third-largest oil firm remarked that the competitive landscape has been devastated due to the establishment of preferences and benefits, now overshadowed by unilateral sanctions from the US and its allies.
"Sanctions are undermining the formerly untouchable principle of contractual obligations, the legal framework itself, and consequently, the social sphere, ultimately affecting the global market," Sechin noted.
"In the past two decades, the tally of US sanctions has surpassed 15,000, in addition to 5,000 sanctions from their European partners. Regrettably, the energy sector, due to its significance and demand, has become a focal point for intense scrutiny and pressure," he remarked.
He further articulated that the reconfiguration of the global energy landscape, resulting from the extensive application of sanctions, is marked by price instability, shortage risks, and misleading 'green' transition initiatives, as long-term contracts and supply chains are disrupted.
The Rosneft CEO also emphasized that the economic context surrounding political actions is often a primary factor behind their implementation.
Referring to historical precedents, he pointed out that economic motives for wars were openly acknowledged until the colonial era, and the "complete political and ideological obfuscation of true war objectives has become a persistent tradition, evolving into more sophisticated forms over time."
Sechin highlighted that World War I "commenced as a conflict over the reallocation of colonies among old and new colonizers, with the egregious exploitation of defeated Germany being a significant factor that ignited World War II, which primarily benefited the United States, granting it substantial economic leverage over the war-torn European economies."
"The system, which is founded on the absolute supremacy of the US and its allies, is currently undergoing the painful transformation we are witnessing," Sechin concluded.
