US to take aim at Chinese banks aiding Russia war effort, WSJ reports
The U.S. is drafting sanctions that threaten to cut some Chinese banks off from the global financial system, which officials hope will stop Beijing's commercial support of Russia's military production, the Wall Street Journal reported on Monday, citing people familiar with the matter.
As Secretary of State Antony Blinken visits China this week, the question is whether this potent financial threat can dent the China-Russia trade enabling Moscow to rebuild its military after losses in Ukraine, the report says. Blinken on Friday
criticised Chinese support for Russia's defence industry, saying Beijing was the primary contributor to Moscow's war in Ukraine through its provision of critical components for weaponry.
In recent weeks, U.S. officials have intensified pressure
on China, warning that Washington stands ready to take action against Chinese financial institutions facilitating trade in goods that have both civilian and military applications.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Chinese media revoke entries from South Asian journalism awards
Russia says it shot down four U.S.-made long range missiles over Crimea
Russian drones injure 6 in Ukraine's Kharkiv, Dnipro regions
Summit to Highlight Role of Veterans in National Progress Set for May 8 by U.S. Army
French cosmetics sector eyes Xi visit for reprieve on Chinese import rules