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November 19, 2019

Russian Direct Investment Fund warned for the risk of trade wars

director Russian investment fundThe Russian Foreign Direct Investment Fund does not expect any new sanctions against Russia from the United States, but its director, Kirill Dmitriev, warned of the risk of a trade war against Russia.

“Any trade restrictions can have a cascading effect, so there is a risk of trade wars and it will definitely be an important topic discussed here in Davos”, said he. “Every attack on a state fund is very dangerous, because it would create a precedent in which the wealth of one country is attacked, and the sovereign wealth funds will withdraw from the dollar and find a way to reduce the risk of being sanctioned”, added Kirill Dmitriev.

According to him, Russia is adapting to the existing sanctions and they even help some sectors of the Russian economy such as agriculture and others.

“And they did not achieve any political goals”, added the director of the Russian Foreign Direct Investment Fund.

The Russian Direct Investment Fund invited a “very important” delegation from the United States to the St Petersburg International Economic Forum 2018, in attempt to warm the business relationship with the US.

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