Problems in the US banking system can have almost no effect on the situation in the Russian banking sector, as Moscow is to some extent insured against the negative impact of the unfolding crisis, Kremlin spokesman Dmitry Peskov said on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 14th March, 2023) Problems in the US banking system can have almost no effect on the situation in the Russian banking sector, as Moscow is to some extent insured against the negative impact of the unfolding crisis, Kremlin spokesman Dmitry Peskov said on Tuesday.
On March 10, California regulators shut down the US Silicon Valley Bank (SVB), which became the second largest US bank to collapse after the 2008 financial crisis. All the insured deposits were transferred to Deposit Insurance National Bank of Santa Clara, a separate financial institution created by the US federal regulators to protect the insured deposits.
"Because our banking system, of course, has, let's say, certain connections with some segments of the international financial system, but it is under illegal restrictions for the most part, again imposed by the collective West. Therefore, there is no silver lining, here we are to a certain extent insured against the negative impact of the crisis that is now unfolding there," Peskov said, adding that there are almost no problems in the Russian banking system.
