The US and EU imposed unprecedented sanctions against Russia in the wake of its full-scale invasion of Ukraine. However, they proved ineffective and harmful, backfiring mainly on the US economy.
American billionaire and founder of investment fund Bridgewater Associates Ray Dalio analyzed the interim results of the US sanctions against Russia. Dalio said that they had hit the West and the United States hard and worsened the US position in international politics. Moreover, other countries are wary of investing in US securities.
"Other nations are aggressively freeing themselves from US government bonds, as they are afraid they will be treated the same way as Russia. This changes the balance of power around the world," he said.
The billionaire called the anti-Russian sanctions ineffective as they had not achieved their goals. He added that the US could not act differently since economic sanctions were the only available weapon that Washington could use against Moscow.
