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The global economy is a hostage to decisions made in the interests of technological, military, and financial corporations – Sechin

The global economy is a hostage to decisions made in the interests of technological, military, and financial corporations – Sechin

Published on: 2026-06-06

Source: Rosneft – An important disclaimer is at the bottom of this article.

International institutes and organizations have turned into zombies, and the world is hostage to decisions made in the interests of technological, military, and financial corporations, said the Responsible Secretary of the Commission under the President of the Russian Federation on the Development Strategy of the Fuel and Energy Complex and Environmental Security Igor Sechin.

Speaking at the Energy Panel within the framework of the XXIX St. Petersburg International Economic Forum, he noted that the obviousness of the attempt to replace the world legal system with the legal system of one country. “Such international institutions as the United Nations, the World Trade Organization, the International Monetary Fund, the World Bank, the nuclear weapons limitation system, and other regulators have turned into zombies,” said Sechin in the course of his presentation with the report “The Beginning of the End or the End of the Beginning: What Remained at the Bottom of Pandora’s Box.”

The UN is currently on the brink of bankruptcy, unable to pay employee salaries, with its very operation under threat. According to Sechin, Washington’s debt to it exceeded four billion dollars; among the debtors are also China, Venezuela, Saudi Arabia, and more than 30 other countries worldwide. “The very operation of this organization is under threat,” he noted.

“New leaders have come to the forefront: now the global economy is an absolute hostage to political decisions made in the interests of large corporations, mainly technological, military, and financial, which have formed a closed circle of beneficiaries,” Sechin said.

He noted that alongside such instruments of influence as pandemics, disruption of supply chains, sanctions, embargoes, interference in internal affairs, political provocations, economic strangulation, court seizures, pipeline sabotage, organization of coups d’état, there was also the use of armed forces.

“Practical experience shows that disasters are always the result of a combination of factors, only part of which can be predicted and taken into account. The core of the tragedy consists of mistakes made, unforeseen circumstances, and unaccounted risks. When decisions are made solely out of self-interest, prediction becomes impossible,” Sechin noted.

He quoted the Italian thinker and political figure Niccolò Machiavelli, who said that the power of authority lies in its secrecy.

“Pandora’s box has been opened, and the troubles and misfortunes that flew out of it will not return back. The key question is, what problems still remain at the bottom of the box? What else will we have to face?” said Sechin.

Department of Information and Advertising
PJSC “NK “Rosneft”
June 6, 2026

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