{"id":1159,"date":"2026-06-06T09:08:48","date_gmt":"2026-06-06T09:08:48","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1159"},"modified":"2026-06-06T09:08:48","modified_gmt":"2026-06-06T09:08:48","slug":"russias-sechin-says-u-s-companies-benefit-from-the-closure-of-the-strait-of-hormuz","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1159","title":{"rendered":"Russia&#8217;s Sechin says U.S. companies benefit from the closure of the Strait of Hormuz"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<li>Companies<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>ST. PETERSBURG, Russia, June 6 (Reuters) &#8211; Rosneft (ROSN.MM)<svg><\/svg><span>, opens new tab<\/span> Chief Executive Igor Sechin said on Saturday that U.S. energy companies were the \u200cmain beneficiaries of the closure of the Strait of Hormuz and that Washington was trying to change the fundamental contours of the global energy markets to suit U.S. interests.<\/div>\n<div>Iran blockaded the Strait, the main route for about a fifth of \u200bworld oil supplies and other vital goods including fertilisers, after the United States and Israel \u200battacked Iran and killed Supreme Leader Ayatollah Ali Khamenei in February. The U.S. has \u2060blockaded Iranian ports.<\/div>\n<div>The closues of the Strait has rattled global markets, sending oil prices to multi-year highs, \u200bstoking global inflation and undermining economic growth world-wide.<\/div>\n<div>Speaking at the St. Petersburg International Economic Forum, Sechin, a long-standing \u200bally 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 alliance.<\/div>\n<div>&#8220;The closure of the Strait of Hormuz is an \u200battempt to reshape global energy market regulations to benefit the United States. The measures taken to block \u200bthe strait were aimed at Iran, but backfired on the entire world. The strategic risks were underestimated,&#8221; Sechin said.<\/div>\n<div>&#8220;The main \u200cbeneficiaries, \u2060of course, were American companies, who gained non-competitive advantages and the ability to secure high-cost supplies,&#8221; he added.<\/div>\n<div>He warned that following Strait of Hormuz closure, other major global routes, such as Malacca, Bad El Mandeb and Gibraltar straits could also be under the risk of disruption.<\/div>\n<h2>SECHIN SAYS OPEC+ IS LOSING ITS MOJO<\/h2>\n<div>Sechin, who \u200bis known for his \u200bskepticism about Russia&#8217;s cooperation \u2060with the Organization of the Petroleum Exporting Countries, said the OPEC+ group has lost some its potential following the UAE departure from the alliance as well as \u200bearlier exits of Qatar and other countries.<\/div>\n<div>&#8220;As a result, the alliance&#8217;s production has \u200bfallen from 58 \u2060to 37 million barrels per day over the past ten years,&#8221; he said.<\/div>\n<div>Sechin also said that most major OPEC+ members have increased production since the agreement was signed in 2016. In Russia, oil production fell by \u20601.5 million \u200bbarrels per day.<\/div>\n<div>&#8220;This is a 15% decline that will need \u200bto be offset by necessary investments of at least ten trillion rubles. We expect that investment cooperation between the alliance&#8217;s member countries \u200band our country will also expand,&#8221; Sechin said.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1157\">Airbus in limbo over early launch of larger A220, sources say<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1155\">Spirit Airlines shutdown forces thousands of US employees to reset careers<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1153\">Musk\u2019s SpaceX IPO jolts life back into European retail investing<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rosneft Chief Executive Igor Sechin said on Saturday that U.S. energy companies were the \u200cmain beneficiaries of the closure of the Strait of Hormuz and that Washington was trying to change the fundamental contours of the global energy markets to suit U.S. interests.<\/p>\n","protected":false},"author":1,"featured_media":1158,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[21,53],"class_list":["post-1159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-energy","tag-gas"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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