Billionaire investor Ray Dalio has warned that fresh U.S. sanctions on Russian oil giants could destabilize global markets, weaken the dollar, and boost gold, underscoring how economic warfare can reshape monetary power.

In a post on X, Dalio wrote, “Sanctions reduce the demand for fiat currencies and debts denominated in them and support gold,” referencing historical cases where financial penalties triggered broader currency shifts. His remarks come days after the U.S. imposed new sanctions on Rosneft and Lukoil in response to Russia’s war in Ukraine. Advertisement

The move sent oil prices higher earlier this week, though they pulled back Friday, with Brent crude slipping 36 cents to $65.63 and WTI down 33 cents to $61.43.

Dalio compared modern sanctions to economic warfare preceding

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