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Russia is carefully monitoring the U.S. financial system amid discussions of the U.S. authorities defaulting on its debt obligations. Treasury Secretary Janet Yellen stated the Treasury will probably be unable to pay the federal government’s payments if Congress doesn’t act by June 1.
Russia Monitoring US Financial system in Case of Debt Default
Russia is carefully monitoring the state of the U.S. financial system as discussions of potential debt default intensify, Kremlin Spokesman Dmitry Peskov advised reporters on Tuesday.
“We see that the U.S. financial system, simply as the worldwide financial system, is presently experiencing sure issues,” Peskov was quoted by Russian information outlet Tass as saying. “Inflation expectations proceed staying at a somewhat excessive degree,” he harassed, including:
Actually, we’re preserving an in depth eye on all that. All our fiscal companies.
The USA is presently dealing with a debt ceiling disaster. Treasury Secretary Janet Yellen warned on Monday that the Treasury Division won’t be able to pay the entire authorities’s debt obligations by June 1 if Congress doesn’t increase or droop the debt ceiling.
Noting that this isn’t the primary time severe issues have emerged within the U.S. financial system, the Kremlin spokesperson described:
This happens in the US on an extremely common foundation … They discovered options so far. We are going to take an in depth look this time additionally.
Since 1960, Congress has acted 78 separate occasions to completely increase, quickly lengthen, or revise the definition of the debt restrict, in accordance with the U.S. Treasury Division’s web site.
Along with monitoring the U.S. financial scenario, Russia can be ramping up its de-dollarization efforts after the U.S. seized about $300 billion within the Russian central financial institution property frozen by sanctions.
Russian President Vladimir Putin stated final week that U.S. insurance policies will backfire as Russia expands relations with pleasant nations in Eurasia, Africa, and Latin America. Russia can be discussing creating a standard BRICS foreign money with member nations. The BRICS nations comprise Brazil, Russia, India, China, and South Africa. The chairman of the State Duma Committee on the Monetary Market stated final week that an settlement on the BRICS foreign money may be reached in 2023.
What do you consider Russia monitoring the U.S. financial system for potential debt default? Tell us within the feedback part beneath.
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