US, IEA Demand Asia-Pacific Nations Diversify Energy Supply Chains to End Reliance on Russia & China

US-led efforts to reduce reliance on Russian oil since the beginning of Moscow's special military operation in Ukraine have led to a global energy crisis, with oil prices hitting their highest level since the global financial crisis in 2008.

The United States and the International Energy Agency (IEA) have called upon nations in the Asia-Pacific region to diversify their supply chains so that they don't have to depend on Russia and China for imports of energy, critical minerals, and clean energy technology.

"We want to make sure that we are not as nations under the thumb of petro-dictators, under the thumb of those who don't share our values, under the thumb of those who would like to control strategic aspects of the supply chain," US Energy Secretary Jennifer Granholm claimed at the opening session of the Sydney Energy Forum, a two-day event co-hosted by the Australian government and the IEA.

The organizers said that one of the goals of the event is to “realize opportunities and address barriers in clean energy supply chains for the Indo-Pacific region and beyond.”

Granholm, Fatih Birol, the executive director of the IEA, and Masatsugu Asakawa, president of the Asian Development Bank (ADB) were participants at the inaugural session.

The US energy secretary and IEA executive director also said that the current global energy crisis should trigger nations in the Asia-Pacific region to expedite their transition away from fossil fuels towards cleaner modes of energy.

Granholm told reporters that “China has big footed a lot of the technology and supply chains that could end up making us vulnerable,” as per Reuters.

“From an energy security point of view, (it) is imperative that nations that share the same values develop our own supply chains, not just for the climate but for our own energy security," she reportedly said.

ADB President Asakawa remarked during the session that the “battle for climate change will be won or lost in the Indo-Pacific,” which is “responsible for more than 50 percent of global greenhouse gas (GHG) emissions."

"We have to bring the gas, coal and oil demand down if we want to reach our climate targets," Birol added.

Following the launch of the special operation in Ukraine, Western nations and their allies have imposed comprehensive sanctions against Russia, pledging to end their dependence on Russian energy supplies. Subsequent disruptions in logistical and financial operations have undermined supply chains and led to a spike in energy prices worldwide.