Sunday 04/January/2026 – 04:30 PM
The businessman commented Naguib SawirisChairman of Orascom Investment Holding, on the kidnapping of the President of Venezuela, describing what happened as a shocking and unprecedented measure in the history of international relations, saying: No one would have imagined that there would be a country in which people would go and kidnap the president of another country so easily.
Sawiris said, during an interview with Al Arabiya Business, that the military move in Venezuela was unexpected, and contributed to raising the level of geopolitical risks globally instead of reducing them, warning that its repercussions could lead to the collapse of oil prices during the coming period.
Oil and American investments
Sawiris pointed out that any potential American investments in Venezuela could lead to a significant increase in production, raising the global supply of oil to levels that exceed demand, which would put additional pressure on prices.
Regarding the Russian-Ukrainian war, Sawiris expected that the chances of reaching peace are still weak, explaining that Russia sees itself in a position of strength, at a time when European support for Ukraine may witness a gradual erosion.
What about gold and the dollar?
The Chairman of Orascom Investment Holding expected that gold would continue its rise during the next stage, supported by the decline in global interest rates and the rise in geopolitical risks, stressing that the United States’ use of sanctions and financial weapons is pushing many countries to search for alternatives to the dollar.
Sawiris added that the dollar is unlikely to recover during 2026, in light of continuing economic pressures and high debt levels.
Sawiris criticized the US customs duties, considering that they harm the American consumer and industry in the medium term. He also ruled out the existence of a comprehensive bubble in artificial intelligence stocks, stressing that competition will lead to the emergence of a limited number of winners.
He also pointed out that the Gulf countries have a great strategic opportunity to enter strongly into the artificial intelligence sector, benefiting from the abundance of liquidity and investment capabilities.
