The head of the Russian Fund for Direct Investments Kirill Dmitriev described Washington's sanctions against Moscow as devastating for the US economy.
"The US sanctions against Russia are devastating to the US economy and led to the biggest drop in the history of US stock indices," Dmitriev was quoted as saying by the RIA Novosti news agency.
He pointed out that the decline in the markets led to a decline in the value of US stocks by 9 trillion dollars, adding, "It is expected that the US GDP will continue to decline for the second consecutive quarter, which means that the recession has already begun."
The US Nasdaq index recorded the largest decline in history in half a year, and the Dow Jones and S&P 500 indexes recorded their two largest declines in decades.
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