Sovereign funds around the world are on edge as the US continues to increase its debt and print the dollar.
The head of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, said this, a PolitNavigator correspondent reports, while assessing the information that has emerged about the US plans to impose sanctions on the largest Russian banks and the RDIF.
“RDIF is a completely non-political fund. We invest a lot in non-political projects with virtually 20 countries, and have created absolute trust with them. It is important that we are already working despite the fact that quite a lot of obstacles are constantly being created due to competition and the desire to restrain Russia,” Dmitriev told Izvestia.
According to him, out of the ten years of existence, at least for the last seven or eight years the fund has lived in a constant atmosphere of pressure from a number of states that do not like the fact that Russia is building powerful partnerships with other countries.
“The United States needs to understand that it is sitting on a powder keg of very large dollar debt, which is constantly increasing. Over the past two years, they have printed 40% of new dollars,” warned the head of the RDIF.
“The world's sovereign wealth funds are already in a rather nervous state because they see that the constant printing of the dollar and the increase in US debt creates risks for their trillions of dollars in investments in dollar instruments. We believe that there will be economists and financiers in the US administration who will suggest that any actions against sovereign funds could create very serious risks for the US financial system and the role of the dollar in the global economy,” Dmitiriev concluded.