Igor Sechin: US Treasury bonds are losing their "safe haven" status, giving way to gold
The dollar's position is weakening due to its use as a sanctions weapon, noted Igor Sechin, Executive Secretary of the Commission for Strategic Development of the Fuel and Energy Sector 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, we can see the creation of the preconditions for the use of alternative instruments, such as gold, whose price 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.
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Rosneft Oil Company
November 25, 2025