- The Kremlin said Russia will not be impacted by the US bank crisis.
- Kremlin’s spokesperson said Russia is ‘insured’ against the fallout from Silicon Valley Bank’s collapse.
- Sanctions over the Ukraine war have cut Russia off from the international financial system.
It’s been a rocky week for US banks. But the Kremlin’s looking at the bright side of things.
Russia is now so cut off from the global financial system that the Kremlin thinks it will face no impact from the collapse of Silicon Valley Bank.
“Our banking system has certain connections with some segments of the international financial system, but it is mostly under illegal restrictions from the collective West,” the spokesperson for Kremlin, Dmitry Peskov, said Tuesday, according to TASS state news agency. He was referring to sanctions against the country over its invasion of Ukraine one year ago.