The results of microstructura l analysis, short-term and long-term strength tests of modified sparingly alloyed refractory alloy of 32%Cr-43%Ni and its welded joints are presented. A quantitative analysis of the dispersed phases in the initial state and after long-term strength tests has been carried out. It is shown that the network of carbide-intermetallic precipitates persists after long-term strength tests at a temperature of 1150 °C. This ensures the ability of the developed alloy and its welded joints to withstand high-temperature creep for a long time. It has been established that after long-term strength tests at a temperature of 1150 °C, niobium carbide particles present in the base metal and weld metal are almost completely transformed into an intermetallic phase based on Cr-Ni-Si-Nb-N. The penetration of atmospheric nitrogen into the metal stimulates this process.