Bessent also urged the International Monetary Fund to adopt a tougher stance against economic policies that distort global trade, a move seen as a reference to China. These proposals are part of a broader push by the Trump administration to reshape international financial institutions to align with its specific economic and energy priorities.
Tuesday, October 20, 2026
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Bessent Demands World Bank Lift Ban on Oil and Gas Funding
Commodities6 days ago
Scott Bessent has proposed that the World Bank end its restrictions on financing oil and gas extraction projects to allow nations to develop their energy resources. His plan also calls for expanded investment in nuclear energy and the support of deep-sea mining for critical minerals. Bessent's demands include new limits on borrowing for wealthier nations, specifically naming China and Poland, and a revision of procurement rules to increase competition.
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