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Global currency war possible due to weakening national currencies — oil major head

According to Rosneft CEO, this may be triggered by the economic and technological confrontation between the US and China, trade and tariff wars and US sanctions against major oil producers

© AP Photo/Kin Cheung, File

VERONA, October 24. / TASS /. A future global currency war may not be ruled out, due to the weakening national currencies of several countries, said the head of Rosneft Igor Sechin at the 12th Eurasian Economic Forum on Thursday.

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"Further steps to weaken national currencies increase the likelihood of a global currency war with extremely unpredictable consequences. Against the backdrop of the upcoming elections next year, the US administration may take new measures to "make America great. So, about two weeks ago, the US Federal Reserve announced plans to send up to $60 billion monthly for the purchase of US government debt to finance the budget. This will lead to an excessive infusion of dollars into the global economy," Sechin stated.

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