Sechin declared the dependence of the global economy on political decisions in the interests of corporations

The global economy has become hostage to political decisions made in the interests of large technological, military and financial corporations. This opinion was expressed by Igor Sechin, Executive Secretary of the Commission under the President of the Russian Federation on Fuel and Energy Sector Development Strategy and Environmental Safety, head of Rosneft, at the Energy Panel at SPIEF 2026.

Speaking with the report "The beginning of the end or the end of the beginning: what remains at the bottom of Pandora's box," Sechin drew attention to the expansion of the set of tools for political and economic pressure. According to him, along with sanctions, embargoes, disruption of supply chains, interference in the internal affairs of states and other measures, military force is increasingly being used.

Sechin stressed that major crises and disasters are usually the result of a combination of mistakes, unforeseen circumstances and unaccounted-for risks. "When decisions are made solely based on one's own benefit, a forecast is impossible," Sechin added.

He also stated that international organizations are losing influence, and the global legal system is actually being replaced by the legal system of one country.

"International institutions such as the United Nations, the World Trade Organization, the International Monetary Fund, the World Bank, the nuclear arms limitation system and others have turned from regulators into zombies," Sechin explained.

According to him, the UN is currently experiencing serious financial difficulties. He noted that the US debt to the organization exceeded $4 billion, and China, Venezuela, Saudi Arabia and more than 30 other countries were also among the debtors.

"Pandora's box has opened, and the troubles and misfortunes that have flown out of it will not come back. The key question is what problems still remain at the bottom of the box. What else do we have to face?" said Sechin.