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U.S. Secretary of State Antony Blinken shakes hands with Chinese President Xi Jinping in the Great Hall of the People in Beijing, China, Monday, June 19, 2023.
U.S. Secretary of State Antony Blinken shakes hands with Chinese President Xi Jinping in the Great Hall of the People in Beijing, China, Monday, June 19, 2023.

Leah Millis/pool / AP Photo

  • The US is drafting sanctions on Chinese lenders, The Wall Street Journal reported.
  • These could cut China off from accessing the US dollar and Western markets.
  • Lawmakers are worried that China's commercial exports to Russia are helping its military industry.

The US is taking sharper aim at Chinese financial institutions, in an effort to stamp out a key source of support for Russia's military production.

Tags
economy, Markets, us-sanctions, russia-ukraine-war, russia-china-relations, china-sanctions, us-treasury, dedollarization, dollar-dominance
Source
The US is eyeing sanctions that could cut off some Chinese banks from the rest …