The Kremlin called the sanctions protection against the crisis of the US financial sector

Western sanctions "to a certain extent" insure the Russian banking system against the negative impact of the crisis in the United States . This was stated to journalists by the press secretary of the President Dmitry Peskov, reports TASS.

According to him, the Russian banking system has "certain ties with some segments of the international financial system", but is largely under "illegal restrictions." “Therefore, there is no evil without good. Here, to a certain extent, we are insured against the negative impact of the crisis that is now unfolding overseas,” Peskov said.

On March 11, the American Silicon Valley Bank (SVB) went bankrupt. it became the biggest bank failure in the 15 years since the 2008 global economic crisis. SVB ranked 16th in terms of assets in the US and served primarily technology companies. Due to systemic risks in the US, they also decided to close Signature Bank, which in terms of asset structure was in many ways similar to SVB. 

The US Treasury Department says that the country's financial system remains stable. Minister Janet Yellen said regulators have effective tools to deal with the situation. US President Joe Biden noted that American taxpayers will not suffer losses due to the problems of bankrupt banks.