Pushkov allowed the collapse of the world economy due to the "red cards" of the West

The world economy could collapse if the West issues the same “red card” to CHINA, which, according to the HEAD of VTB Bank Andrei Kostin, was issued to RUSSIA, Senator Alexei Pushkov said in his TELEGRAM channel.

Earlier, in a column for RBC, Kostin, speaking about the priorities of the financial sector under the sanctions, noted that now access to the world market must be earned by “playing by the rules.” Russia has received a red card. China  is still “yellow,” Kostin said.

He explained that for the banking sector, this means the need for further devaluation of balances in dollars and euros. “Priorities on the external circuit are the diversification of foreign exchange payments, the transition to trade with friendly countries in rubles and national currencies using a secure payment and settlement infrastructure, the development and launch of investment instruments in soft currencies,” added the head of VTB.

In turn, Pushkov believes that the West, for all its strength, is not self-sufficient and not omnipotent, and that China receiving a “yellow card”, which may be followed by a “red one”, is a demonstrative threat, not a reality.

The "red card" of Russia has already created a lot of problems for the West. If the West takes the same to China, then the world economy will simply collapse, whether they understand it in the West or not. But then they will definitely understand, ”concluded the senator.

After the start of the military operation in Ukraine, Western countries began to impose sanctions against Russia. Restrictive measures affected the financial and industrial sectors, as well as individual politicians, officials and businessmen.

At the end of February, the United States imposed sanctions against VTB Bank, namely, they added it to the SDN list, which means blocking all assets and accounts of credit institutions in US dollars and de facto isolation from the DOLLAR system. In addition, subsidiaries of VTB, in which the state bank has a share of over 50%, were under sanctions. Similar sanctions against VTB were introduced by the European Union and Great Britain. Sanctions were also imposed against Sberbank, Alfa-Bank, Promsvyazbank, Otkritie Bank, Sovcombank, Novikombank and other major Russian banks.