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00:00Before we get to relations between the US and Russia the latest news on the terrorism posed by Trump on solar panels and solar panels. Is there a risk of a trade war happening here. Well I think it's possible. And the risks are there because any restrictions on trade of course can generate cascading effects . So reduce your risks of trade wars and the difference was this will be the big topic discussed here in Davos and the implications for the rest of the world. Well again I think One Belt One Road initiative by China I saw very close an initiative and Chinese showing that it's open to partnership open to the world. I think you know trade wars will be a very negative thing for the world economy as it just resumed. Very good pace of growth. And by the way IMF suggests that Russia will be one of the growth engines of the world in the next year or so we hope that trade wars do not happen. Now Carol the U.S. is coming up with a new list targeting oligarchs in Russia. How much concern is there in Russia about this. Well frankly Russia very much adjusted to existing sanctions. And you know our growth is 2 percent this year and expects to be more than 2 percent last year. And frankly sanctions haven't helped. Some sectors of the Russian economy such as agriculture and others and did not achieve any policy goals. So I think people will see what happens. I think frankly Russia's concerns that lots of those decisions are very much they can in a nun educated manner. And we'll just see what happens. But of course sanctions Justice trade wars are negative things for the world . Those sanctions be implemented. Will that impact the way you invest because you invested in some of the companies for instance the likes of Ali Oleg DuPont sir. Would that impact the way you look at how you invest. Well first of all we would say we as the most nonpolitical so well-run wealth fund in the world because forced to make an investment we need to have at least the same amount of money coming from foreign partners. So we always look for foreign partners to invest. And despite some sanctions on our foreign parent former foreign minister on bank we continue to actively invest. We invested more than 20 billion dollars did such a deal last year point four billion of capital and then the attack on sovereign wealth fund. It's a very dangerous thing because it will set the precedent well nation's wealth is under attack. And frankly sovereign wealth funds then would move away from dollar. And we'll find a way to reduce the risk of being sanctioned your time and by the way the trade wars with China does it means that their funds can also be affected by some sanctions in the future. So we don't expect any additional sanctions on that. JF We believe that any such move will be very uneducated and a big mistake. Speaking of investments you invested in day proxies and plus despite saying initially you would not do that. Why the change of heart. Well we see is that the company is performing quite well. Lots of other partners came in our investment by our Jeff wasn't that significant. Plus around 50 million dollar in the one point five billion dollar IPO. But the company is doing well. The market's follow minimum have recovered. They are selling lots of product and we believe the prospect of the company is good . You know last year at about this time you met up with your friend Anthony's car Mucci in an effort to warn ties between the two countries. Nothing has happened since. Do you expect 2013 to be a reversal of that. Well we hope that St. Petersburg Economic Forum in May this year will be a breakthrough point because business dialogue is very important and we are meeting with hundreds of Americans throughout the year we'll get probably 30 meetings with Americans here in the forum and business dialogue is critical and we are very much fond of Jon Huntsman's and you ambassador of the U.S. and Russia a very thoughtful approach to try to think where we can help business dialogue how we can start having discussions and I think that's a very healthy approach. If I were to ask you Would you like to hear about the U.S. Russia relations. What would you say. Well of course better relations with everybody. Just one final question and answer this in you've talked about having a representative office in New York. That hasn't happened. Is that going to happen and is that a reflection of us Russia . Tice Well again we haven't done this yet. We hope to do it. We want to have the ice melt in a little bit before that because right now a new dialogue between Russia U.S. is attacked by media very unjustly all the time and that has to change .

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Russian Direct's Dmitriev Says Trade War Is Possible, Risks Are There

Kirill Dmitriev, head of the Russian Direct Investment Fund, discusses President Trump's tariffs, trade and the Russian economy with Bloomberg's Haslinda Amin on "Bloomberg Daybreak: Europe" at the World Economic Forum's annual meeting in Davos, Switzerland. (Corrects guest's last name in headline and description.) (Source: Bloomberg)

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