A US decision to curb Russian access to US technology and US dollars in retaliation for the invasion of Ukraine, could backfire, according to hedge fund manager Ken Griffin.
In an interview with Bloomberg, the Citadel chief executive said that denying Russia access to US tech could hurt Sillicon Valley and force Russia to look elsewhere – such as China – for software solutions.
Likewise denying access to the US dollar – the reserve currency of the world, according to Griffin – will increase the appeal of other global currencies and diminish the standing of the dollar in the process leading to higher debt interest payments for American taxpayers.
