Translation. Region: Russian Federation –
Source: Rosneft – An important disclaimer is at the bottom of this article.
Continuing sanctions against Russia and China will bring about another economic crisis in Western countries, according to Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Sector Development Strategy and Chief Executive Officer of Rosneft Oil Company.
"The West's continued aggressive sanctions policy against both Russia and China will undoubtedly bring about another economic crisis in Western countries. Not all Western politicians realize the risks they face," Sechin said at the opening of the 7th Russia-China Energy Business Forum (RCEBF) in Beijing.
He recalled that local goals are being set today to strengthen sanctions in the energy sector, energy assets are being seized in international jurisdictions, and instead of achieving the stated goals, energy consumers in Western countries are already in a dramatic situation.
"The efficiency with which Russia and China supply their economies with electricity is the foundation of our development, our natural advantage. It is a fundamental factor in our competitiveness. Thanks to forward-looking energy policies, the cost of electricity for the industrial sector in our countries is currently more than half that of the US and three to four times lower than in some EU countries," Sechin said.
He noted that with the average market price of oil at $60 per barrel, an American car owner pays $3 per gallon of gasoline. Meanwhile, an electricity consumer in the US, with the current residential price of electricity at 18 cents per kilowatt-hour (i.e., more than $6 per gallon of gasoline), effectively pays $125 per barrel of oil equivalent.
Meanwhile, electricity prices are even higher in the European Union. In Germany and Italy, electricity costs of 40 cents per kilowatt-hour (for households) translate into $14 per gallon of gasoline, equivalent to $300 per barrel of oil equivalent. "Continued sanctions pressure can only lead to a significant increase in real prices," says Igor Sechin.
"The forecast is very realistic," he noted. "Such electricity costs will hinder the development of new projects, including data centers, make it virtually impossible to convert transport to electric traction, require increased budget expenditures to subsidize housing and utilities, and, ultimately, create the preconditions for a decline in economic potential and a sharp increase in household spending in Western countries."
In his opinion, deprived of access to Russia's competitive resource base and China's component platform, Western opponents could lose their technological and economic influence. This would create the preconditions for the risks of civilizational redistribution.
"As the outstanding Chinese strategist and thinker Sun Tzu said: 'Tactics without strategy is simply vanity before defeat,'" Sechin concluded.
Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.
