US to take aim at Chinese banks aiding Russia war effort, WSJ reports

The US is drafting sanctions that threaten to slash some Chinese banks off from the worldwide economy, which officials hope will conclude Beijing’s commercial toughen of Russia’s military production, the Wall Avenue Journal reported on Monday (Apr 22), citing people accustomed to the topic.

As Secretary of Tell Antony Blinken visits China this week, the ask is whether or now not or now not this potent financial likelihood can dent the China-Russia alternate enabling Moscow to rebuild its military after losses in Ukraine, the picture says.

Blinken on Friday criticised Chinese toughen for Russia’s defence alternate, announcing Beijing used to be the principle contributor to Moscow’s war in Ukraine by its provision of severe substances for weaponry.

In most modern weeks, US officials like intensified stress on China, warning Washington stands in a position to rob action against Chinese financial institutions facilitating alternate in goods which like both civilian and armed forces capabilities.

US officials acknowledged focusing on banks with sanctions is an escalatory likelihood in case diplomatic overtures fail to persuade Beijing to curb exports, the picture acknowledged.