Deripaska expects the impact of the consequences of the collapse of Silicon Valley Bank on Russia-friendly countries

Russian businessman Oleg Deripaska believes that the problems observed in the US in the financial system will lead to consequences for countries friendly to Russia. This is how he reacted to the bankruptcy of Silicon Valley Bank. The entrepreneur expects a plan of anti-crisis measures from the Russian authorities and the largest banks in order to “calculate their strength for these next difficult months.”

“Watching the agony that began in the US financial system, you are clearly aware that metastases will spread throughout the world, affecting the markets of friendly countries that are most important for Russia. Including markets for hydrocarbons, metals, fertilizers, food,” Mr. Deripaska wrote in his Telegram. In his opinion, the crisis in the United States was provoked by raising rates by the Fed. The businessman considers it important “not to repeat these mistakes”.

Oleg Deripaska called on the authorities to take “counter-cyclical” actions and to support investment and economic restructuring. “Trying to do nothing will be costly,” says the entrepreneur. Commenting on the words of the financier Ray Dalio about “the canary in the coal mine”, Mr. Deripaska noted that she “already died.”

Silicon Valley Bank announced bankruptcy 10th of March. This is the 16th largest bank in the US, he focused on working with startups. Its bankruptcy was the largest since the 2008 crisis and the second largest in US history after Washington Mutual Bank.

On the impact of bank bankruptcy – in the material “Kommersant” “And not a friend, and not a bank, but so”.

Leonid Uvarchev