Sechin announced the emergence of the largest bubble in the financial market

The world is on the verge of the largest market bubble since the 19th century, and the financial sector of Western countries will benefit from the crisis, said Igor Sechin, Executive Secretary of the Commission under the President of the Russian Federation for the Development Strategy of the fuel and Energy Complex and Environmental Safety, during the SPIEF 2026 Energy Panel.

During his presentation, "The beginning of the end or the end of the Beginning: What's left at the bottom of Pandora's Box?" Sechin noted that the technology sector is attracting large-scale investments today. McKinsey estimates that total capital expenditures in the data processing sector could reach $8 trillion by 2030.

"Today, companies related to artificial intelligence are actually taking a significant part of the investment resource to the detriment of the rest of the economy," Igor Sechin explained. The share of capital expenditures of the American technology sector in total investments has already reached a record 35%.

Over the past ten years, the share of the ten largest technology companies in the American stock market has tripled, exceeding 44%, Sechin noted. Taking into account the expected launch of such giants as SpaceX, OpenAI and Anthropic, this figure will approach 50%.

"Obviously, the world is on the verge of the largest financial market bubble in history since the railroad boom in the United States in the 19th century," Sechin stressed. In his opinion, the main beneficiary of the impending crisis is the financial sector of Western countries, which yesterday was actively promoting a completely different, "green" agenda.

"Today, the same companies manage trillions of dollars invested at inflated estimates in the high-tech sector and the military-industrial complex. The circle has closed. And recently, BlackRock CEO Larry Fink suggested using the savings of pension funds and insurance companies to buy shares in technology giants. I'm not sure if anyone will ask permission from American pensioners," Sechin concluded.