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Representative Image© Provided by Asian News International (ANI)
Washington, DC [US], May 11 (ANI): The US is considering imposing sanctions on Chinese financial institutions, which are involved in supporting Russia amid its invasion of Ukraine, in a bid to suppress lifelines for Russian military production, reported Nikkei Asia.
US State Secretary Antony Blinken, during a meeting with Chinese President Xi Jinping last month, urged Beijing to end military support for Moscow.
“I made it clear that if China does not address this problem, we will,” Blinken said afterward.
Washington is considering measures that would lock banks out of the American financial system.
Earlier in December, US President Joe Biden gave the Treasury Department authority to impose secondary sanctions against financial institutions in third countries that assisted Moscow in evading sanctions, as reported by Nikkei Asia.
The Biden administration feared that allowing the flow of supplies from China to continue would keep attrition at bay for Moscow’s forces and put Ukraine’s goal of a counterattack next spring out of reach.
Now, the Treasury Department has already begun taking action.
Last month, it announced sanctions against ten organisations and 12 individuals linked to Belarus that are accused of helping Russia‘s arms industry procure components.
