March 14 – BLiTZ. Pavel Seleznev, Dean of the Faculty of International Economic Relations at the Financial University under the Government of Russia, told Svobodnaya Pressa that he considers reports of the collapse of the American banking system due to the collapse of Silicon Valley Bank (SVB) premature, although such a bankruptcy could lead to serious disorder in the financial world.
He noted that the exit of a large bank from the market could have political consequences and could provoke a global economic crisis. Also, Pavel Seleznev noted that it is very premature to consider SVB as the cause of the upcoming global recession. He pointed out that troubles in the American financial system could lead to an economic downturn that would spread around the world and could cause serious problems filling the Russian budget. However, the expert believes that the bankruptcy of SVB could be useful, as it could force the US administration to focus more on its own internal affairs, and not on special operations in Ukraine.
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