Billionaire clarifies why US measures on Russia failed| MENAFN.COM

Wednesday, 06 July 2022 01:15 GMT

Billionaire clarifies why US measures on Russia failed


(MENAFN) Washington’s restrictions on Moscow are imposing other nations to stop their investments in the US over worrying of becoming the next goal, as announced by billionaire hedge fund manager Ray Dalio in an interview with German Newspaper Der Spiegel.

The founder of the world’s largest hedge fund Bridgewater Associates answered the sanctions are not achieving their goals, but there are no other options to Washington, as he received a question on measures against Russia.

“Sanctions are the only weapon the US can use. So far, the decline in Russia's gross domestic product has been around 15 percent. This is bearable for the population. Putin will only have trouble staying in power if the economy collapses more, say by up to 40 percent,” Dalio added.

“I can already tell you with certainty that the West is also suffering from the sanctions. Other countries are increasingly shedding US government bonds because they fear that they could end up like Russia. This is shifting the balance of power around the world,” he also claimed.

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