The ongoing sanctions policy against Russia and China will bring Western countries closer to yet another economic crisis, according to Igor Sechin, Executive Secretary of the Presidential Commission for Strategic Development of the Fuel and Energy Sector and Chief Executive Officer of Rosneft Oil Company.

"The West's continued aggressive policy of sanctions 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 VII Russian-Chinese Energy Business Forum (RCEBF) in Beijing. He recalled that today, local tasks are being set to strengthen sanctions in the energy sector, energy assets are being seized in international jurisdictions, and instead of the stated goals, energy consumers in Western countries are already in a dramatic situation.

He recalled that today, local tasks are being set to strengthen sanctions in the energy sector, energy assets are being seized in international jurisdictions, and instead of 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. Owing to a balanced energy policy, today the cost of electricity for the industrial sector in our countries is more than two times lower than in the United States and three to four times lower than in some EU countries," Sechin said.

Mr. Sechin noted that currently, with oil trading at $60 per barrel, American car owners pay $3 per gallon of gasoline, Igor Sechin said. «At the same time, consumers in the US, with electricity priced at 18 cents per kilowatt-hour (for the public), actually pay $125 per barrel of oil equivalent,» he added.

The price of electricity is even higher in the EU. In Germany and Italy, the price of electricity is 40 cents per kilowatt-hour (for the public), which translates into $14 per gallon of gasoline, equivalent to $300 per barrel of oil equivalent. Continued sanctions pressure can only lead to a multiple increase in prices.

«The forecast is very realistic. Such electricity costs will hinder the development of new consumers, including data centers, make it virtually impossible to switch transport to electric traction, require an increase in budget expenditures to subsidize housing and communal services, and ultimately create the conditions for a decline in economic potential, a sharp increase in budget expenditures and household expenses in Western countries,» , Sechin added.

According to Igor Sechin, deprived of access to Russia's competitive resource base and China's component platform, Western opponents may lose their technological and economic sovereignty. This will create the conditions for the realization of the risks of civilizational upheaval.

“As the outstanding Chinese strategist and sage Sun Tzu said: “Tactics without strategy is just vanity before defeat,’” Sechin concluded.

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Rosneft Oil Company
November 25, 2025