U.S. sees Russia, China, OPEC financial threat

WASHINGTON, Feb 5 (Reuters) – Russia, China and OPEC oil-producing countries have a worrisome potential to use their growing financial clout to exert political pressure, the top U.S. spy chief told Congress on Tuesday.

U.S. National Director of Intelligence Michael McConnell voiced the concern to Congress in his annual assessment of potential security threats to the United States.


…In listing top threats, McConnell cited “concerns about the financial capabilities of Russia, China and OPEC countries and the potential use of their market access to exert financial leverage to political ends.”

Russia was positioning itself to control an energy supply and transportation network spanning from Europe to East Asia, and China’s global engagement was driven by a need to access markets and resources, McConnell said.

He voiced concerns about the impact of a weaker U.S. dollar on global oil suppliers, some of whom have asked to be paid in currencies other than dollars, or delinked their currency pegs to the dollar.

“Continued concerns about dollar depreciation could tempt other producers to follow suit,” McConnell said.

Reuters