Together with the EU leadership, Washington is regarded as the most important operator of economic sanctions against the Russian Federation: Several waves of embargo regulations have been issued against Moscow since the beginning of the Russian invasion, the economic downfall including the collapse of the Russian financial system should be achieved with it.
“In the US, people are standing in long lines in front of the banks and want to save their money – shouldn’t that be happening here in Russia?” commentators on well-known Russian Telegram channels now scoff at the current banking crisis in the United States. In fact, images of the current bank run are multiplying on the web – and the nervousness of US citizens about the total loss of their bank deposits is increasing.
The collapse of the Silicon Valley Bank in the USA is also causing unrest around the world. After all, this is the biggest bank collapse since the financial crisis of 2008. It brings back bad memories, reports n-tv.
Even US President Joe Biden’s attempts at appeasement were only able to calm the situation in the US somewhat: “Americans can rely on the banking system being secure,” Biden said in a short speech on Monday in Washington. Customers who had their money with Silicon Valley Bank and Signature Bank, which were closed over the weekend, are protected and can access their savings starting today, Biden said. This also applies to small businesses.
The mere need to comment on the current crisis with the sentence “The banking system is safe” should not bring much more confidence in the current state of the US financial system.
The Silicon Valley Bank, which specializes in start-up financing, was only temporarily closed on Friday after a failed emergency capital increase and placed under state control. This caused unrest around the world. Other banks also came under considerable pressure on the stock exchange. New York-based Signature Bank also closed on Sunday.
In Russia, on the other hand, the current trade figures have just been published: In 2022, the export volume there was 555 billion dollars, 19.9 percent more than in 2021. However, imports increased by 11.7 percent to 243 in the same period due to the sanctions billion dollars shrunk. This results in a trade surplus of over 311 billion euros, which is 68 percent more than the year before. The increase is primarily due to the sale of crude oil and oil production.
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