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.
According to him, this may happen due to the economic and technological confrontation between the US and China, trade and tariff wars and US sanctions against major oil producers. "All these factors are noted against the backdrop of a weakening monetary policy and lower rates by central banks of the largest economies in the world," Sechin claimed.
"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.