MOSCOW, Mar 13 A potential financial crisis in the United States of America could hit all economies closely related to them, primarily Europe, will also suffer and Asia, including China, and for Russia the impact will be minimal, commented Anatoly Aksakov, head of the State Duma committee on the financial market.
California regulators closed Silicon Valley Bank on March 10, the largest bank failure in the US since the 2008 financial crisis. The collapse of the SVB turned out to be associated with an increase in the discount rate of the US Federal Reserve System (FRS), which led to the depreciation of assets on the balance sheets of many financial institutions. In addition, on Sunday, the authorities closed the large New York Signature Bank due to systemic risks, and on March 8, the closure of the crypto-focused bank Silvergate was announced.
«If the crisis starts to unfold, well, they (the United States — ed.) can patch it up now, respectively, to try to lower the bubble more gently, but in any case it will hit all the economies that are closely connected with the American one. First of all, Europe, additionally «Europe. And Asian countries will also suffer, including China, which is the largest trading partner of the United States of America, and India. Well, in general, the whole world,» Aksakov said.
He noted that Russia, cut off from Western financing, Western financial markets and supplies to the West, «will be the least affected by the American crisis.» At the same time, positive aspects may appear for the Russian Federation in this situation.
«When the American economy starts to crash, the crisis breaks out, all markets will start looking: «Where to? — To Russia. Since it has suffered to a lesser extent, is less connected to the American economy now. And, obviously, the opportunities to create surplus value, to additionally receive income from investments in the Russian economy, they can outweigh fear or criticism there from the United States of America,» the deputy added.