Reports indicate that the United States is in the process of drafting sanctions aimed at potentially severing certain Chinese banks from the global financial network. The objective is to curtail Beijing’s purported assistance to Russia’s military, as outlined by sources familiar with the situation cited by the Wall Street Journal on Monday.
As Secretary of State Antony Blinken embarks on a visit to China this week, the focal point revolves around whether this robust financial measure can impede the China-Russia trade dynamic, which allegedly aids Moscow in bolstering its military capabilities, according to the report.
Blinken voiced criticism on Friday regarding Chinese backing for Russia’s defense industry, asserting that Beijing plays a pivotal role in supporting Moscow’s activities in Ukraine by supplying critical components for weaponry.
In recent weeks, U.S. officials have escalated pressure on China, cautioning that Washington is prepared to take measures against Chinese financial entities facilitating the trade of goods with dual civilian and military applications.
Foreseeing the aftermath of the Ukraine conflict, China and Russia seek to increase trade conducted in yuan rather than the dollar, a strategic move aimed at shielding their economies from potential heightened sanctions imposed by the United States.
