The U.S. is drafting sanctions that threaten to cut some Chinese banks off from the global financial system, arming Washington’s top envoy with diplomatic leverage that officials hope will stop Beijing’s commercial support of Russia’s military production, according to people familiar with the matter.
The banks serve as key intermediaries for the commercial exports to Russia, handling payments and providing client companies credit for trade transactions.
U.S. officials say targeting banks with sanctions is an escalatory option in case the diplomatic overtures fail to persuade Beijing to curb its exports. U.S. officials have ramped up pressure on Beijing in recent weeks in private meetings and calls, warning that Washington is ready to take action against Chinese financial institutions handling trade in such dual-use goods.
“Any banks that facilitate significant transactions that channel military or dual-use goods to Russia’s defense industrial base expose themselves to the risk of U.S. sanctions,” said Treasury Secretary Janet Yellen earlier this month amid meetings with counterparts in Beijing.
So it's a new decade, so we have provoked a new Unwinnable Forever War that we can't possibly win...and which has cost us $250b and has cost Ukraine their entire country, half their population, and 600,000 casualties.
Another great idea from the Neocons and the Uniparty.
This will only accelerate the demise of U.S. dollar and add inflation. China is the largest trading country in the world. If they end up creating other system to trade, our quality of live will be deteriorated so badly. U.S. does not produce much valuable stuffs to trade but USD.
We have so many companies in China such as JP Morgan Chase, Tesla, Starbucks, McDonald, 3M, Walmart, Costco, Apple, Intel, Boeing, Exxon, the big 4 accounting firms, various consulting firms, and many other big and small companies that all take Chinese RMB in business which needs to convert to U.S. dollars. How will they do it without banks doing dollar conversion?
Weaponizing the dollar dominance by the Biden administration, isn’t going to end well for this country.
This is amazing! After 2 years of war, JB has realized China (and Iran & N. Korea, among others) are skirting sanctions and helping Russia? And they want Russia to win so as to bleed the US and our allies dry of money, weapons and influence, while increasing their own? Stop the presses! News at 10!
@ISIDEWITH1wk1W
@ISIDEWITH1wk1W
The historical activity of users engaging with this general discussion.
Loading data...
Loading chart...
Loading the political themes of users that engaged with this discussion
Loading data...
