(TheLibertyRevolution.com)- On Tuesday, the Kremlin assured reporters that the collapse of the Silicon Valley Bank in California posed no risk to Russia since the country has been largely cut out of the Western financial system, Reuters reported.
During a press briefing on Tuesday, Kremlin spokesman Dmitry Peskov was asked if Russia faced any danger from the Silicon Valley Bank collapse which has hit financial markets in the US, Asia, and Europe.
Peskov said there is “practically” no risk, adding that while the Russian banking system does have some connections to the international financial system, it remains “under illegal restrictions” from the Western sanctions placed on most of Russia’s leading banks.
Peskov told reporters that Russia is “insured” to a “certain extent” against any negative impact from the banking crisis “unfolding overseas” due to the sanctions.
Silicon Valley Financial Group, a startup-focused lender, collapsed last week in what is the largest bank failure since the 2008 financial crisis.
In a recent broadcast on Russian state television, host Vladimir Solovyov took pleasure in the collapse of Silicon Valley Bank and Signature Bank in New York, and suggested that future American banks could suffer the same fate.
Solovyov claimed that “analysts” project that at least another ten US banks would likely fail and suggested that the American people may wonder if the money needed to protect US banks is being squandered in Ukraine.
He claimed US banks are failing either because they are “brazenly lying” or because the US financial system has been “weakened.”
Solovyov also accused former President Trump of sparking an economic crisis like the Great Depression through his fearmongering on Truth Social.
But Solovyov was eager for an economic crisis, adding, “Take that, Americans! Enjoy!”
He said the US government’s bailout of depositors is “negligibly small” when compared to how much the US is giving to Ukraine, and predicted that Americans will eventually turn on the government for caring more about Ukraine than it does the US financial industry.