US drafts sanctions to exclude some Chinese banks from global financial system.

The US is drafting sanctions to potentially exclude some Chinese banks from the global financial system, aiming to stop Beijing's commercial support of Russia's military production. This follows criticism by US Secretary of State Antony Blinken of China's support for Russia's defense industry, stating that Beijing is the primary contributor to Moscow's war in Ukraine through provision of critical components for weaponry.

April 23, 2024
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