Translation. Region: Russian Federation –
Source: Rosneft – An important disclaimer is at the bottom of this article.
The dollar's position as a means of payment is weakened by its use as a sanctions weapon, noted Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Sector Development Strategy and Chief Executive Officer of Rosneft Oil Company.
"The dollar's position is weakening not only as a means of payment but also as a global reserve currency. This is being facilitated by the dollar's use as a sanctions weapon," Sechin said at the opening of the 7th Russia-China Energy Business Forum (RCEBF) in Beijing.
According to him, the conditions are being created for the use of alternative instruments, such as gold, the price of which typically rises ahead of global crises. "It is gold that is currently replacing US Treasury bonds, which are gradually losing their 'safe haven' status," Igor Sechin concluded.
Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025
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