Chinese banks are helping to aid Russia's invasion of Ukraine, the US alleges.
The US is considering sanctions to cut Chinese banks off from the dollar, according to The Wall Street Journal.
AdvertisementThe US is drawing up sanctions that could cause some Chinese banks to lose access to the dollar, according to The Wall Street Journal.
In response to previous sanctions, Russia and China intensified efforts to create exchange mechanisms that don't rely on the dollar.
Alexandra Prokopenko, a fellow at the Carnegie Russia Eurasia Center think tank, told The Wall Street Journal that regional Chinese banks had emerged that had little involvement in dollar exchanges.
Persons:
—, Antony Blinken, Alexandra Prokopenko, Prokopenko, Maria Snegovaya
Organizations:
Wall Street, Service, Reuters, Financial, Carnegie Russia Eurasia Center, Center for Strategic, International Studies
Locations:
Ukraine, China, Russia, Italy, Russian