Bessent partly blames Ukraine for ‘energy shock’ pushing up prices

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Today's Top Stories - September 2, 2026

Today's Top Stories - September 2, 2026

Treasury Secretary Scott Bessent on Wednesday partially blamed Ukraine for the “energy shock” caused by the Iran war and Russia’s 4 1/2-year war with the Eastern European country.

Bessent appeared on “Fox & Friends” with co-host Brian Kilmeade and said the Trump administration’s trade war with Canada will have “virtually no impact on American prices.”

“We are going through an energy shock right now due to both the war in Ukraine, because Ukraine has decided that they want to blow up Russian energy assets and refined properties, so that is creating upward price pressure on a global basis, and the conflict in Iran,” he said.

Bessent, who earlier in the interview said prices are “too high,” added that “overall, prices are coming down, core inflation is very under control.”

The........

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