US hosts G20 ‘energy abundance’ talks amid Iran war shock
The meetings gather delegations from the world's largest economies, including major oil producers such as Canada and Saudi Arabia.
United States is hosting a series of G20 meetings focused on 'energy abundance', despite the ongoing war with Iran disrupting global fuel markets. The talks, which will take place in Houston, Texas, bring together representatives from the world's largest economies including China, India, Japan, Germany, Canada, Saudi Arabia, and Russia.
The relevance of Russian finance minister Anton Siluanov's attendance sparked controversy following the US's decision to invite Moscow, against efforts to isolate the country due to the war in its neighboring Ukraine.
The current global energy crisis stems from the Middle East conflict, which has led to a significant surge in oil and gas prices. Europe is particularly struggling to fill its gas storage facilities before the onset of winter. In the United States, the price of diesel has hit a record high, averaging $6.20 per gallon, a 44% increase from the pre-war levels, according to the American Automobile Association (AAA).
The US administration, under President Donald Trump, has framed the war as politically motivated, accusing Iran of extending the conflict to harm Trump's political standing. Trump further alleged that Ukrainian President Volodymyr Zelensky's actions, specifically strikes on Russian refineries, contributed to the diesel shortage in his country. Energy Secretary Chris Wright and Interior Secretary Doug Burgum are expected to participate in the Houston meetings.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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