According to sources cited by the Wall Street Journal (WSJ) on the 22nd, the U.S. government is preparing sanctions that threaten to expel some Chinese banks from the global financial system.
Before he visits China, these measures are intended to provide Antony Blinken, U.S. Secretary of State, with diplomatic leverage to prevent the Chinese government from commercially supporting Russia’s weapons production. U.S. government officials hope that by demonstrating the threat of Chinese banks losing access to U.S. dollars and the potential negative impact on trade relations with Europe, they can pressure the Chinese government to change its policies.
U.S. Treasury Secretary Janet Yellen stated, “Any bank that facilitates significant transactions sending military or dual-use goods to Russian defense bases is exposed to the risk of U.S. sanctions.”
www.msn.com/en-us/money/markets/us-prepares-sanctions-on-chinese-banks/ar-AA1nA4wP