US faces default or serious dollar devaluation — Russian businessman

Business & Economy May 22, 2023, 14:14

Furthermore, Oleg Deripaska added that, other from "Chinese yuan and Hong Kong dollars," "Russian state capitalists" have no other option for investing

MOSCOW, May 22. /TASS/. Russian businessman Oleg Deripaska believes that the United States is facing wither a default or a serious devaluation of the dollar, he wrote on Monday in his Telegram channel.

"If not a US Treasury default with a debt restructuring (currently $32 trillion with a current US federal budget deficit of $1.5 trillion), then a significant depreciation of the dollar," he wrote.

Furthermore, Deripaska added that, other from "Chinese yuan and Hong Kong dollars," "Russian state capitalists" have no other option for investing.

Deripaska also advised Russian businessmen to concentrate their efforts in India, Indonesia, Latin America, and other regions. According to him, these markets are more pragmatically motivated to retain contacts, trade, and act as partners and investors.

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