Volodin jokingly linked the US banking crisis to Chubais’ departure from Russia

State Duma Chairman Vyacheslav Volodin, during a government hour with Energy Minister Nikolai Shulginov, ironically noted that the banking crisis in the United States began after the departure of the former CEO of the company from Russia “Rosnano» Anatoly Chubais.

“And where is Chubais, we also know. Where? Who released? Maybe specifically to ruin it there. What are you smiling at? Look at what is happening in America: banks began to collapse, Chubais arrived there. All this is not without reason, ”Volodin joked (quote according to TASS).

During the discussion of gas tariffs, the speaker of the State Duma noted that “now everything is fine,” because “Gazpromand the oil companies are state-owned. At the same time, Volodin pointed out the need to work in the field of network economy, which “after the reforms of Chubais was dismantled.”

In March 2022, it became known that Anatoly Chubais retired from the post of Special Presidential Representative for Sustainable Development, which he held since December 2020, and left Russia. Commenting on reports of Chubais’s departure, the Kremlin said that “this is his personal matter.”

Prior to his appointment as Special Presidential Representative for Sustainable Development, he headed Rosnano since 2008. Previously, Chubais worked in the administration of St. Petersburg in different years, served as Deputy Prime Minister for Economic and Financial Policy, headed the Presidential Administration and was Minister of Finance and First Deputy Prime Minister in the government of Viktor Chernomyrdin.

Volodin joked about the departure of Chubais in the background collapse American bank Silicon Valley Bank. The credit organization ranked 16th among the largest US banks and specialized in working with start-ups. Western publications noted that the collapse of SVB was the second largest bankruptcy in US history after the closure of Washington Mutual in 2008. March 13 also stopped work of Signature Bank because of “systemic risks”.

After that, the international rating agency Moody’s lowered outlook for the US banking system from stable to negative. They said that they expect the Fed to increase the rate, and admitted that by the end of 2023 the US economy will fall into a recession, which will put even more pressure on the banking sector.

At the same time, the American authorities declare the stability of the country’s financial system thanks to the reforms that were carried out after the 2008 crisis. March 13, President Joe Biden emphasizedthat the US banking system is completely safe, and promised tighter regulation.