G7 countries may next week issue a “stern warning” to small Chinese banks for allegedly helping Russia bypass sanctions. This was reported by Reuters.
“US officials expect G7 members next week to issue a stern warning to small Chinese banks to stop helping Russia bypass Western sanctions,” the report said.
Financial Times June 3 issue WroteIt was stated that during the meetings with Chinese President Xi Jinping in Beijing in May, Russian President Vladimir Putin requested the strengthening of the presence of Chinese banks in Russia.
June 1 Bloomberg reportedIt was stated that G7 and EU countries are working on a new anti-Russian sanctions package that will also include restrictions on third country banks using the Financial Message Delivery System (SPFS) of the Central Bank of Russia (the Russian equivalent of SWIFT).
Before that the Central Bank was recorded Increasing difficulties in transactions with national currencies of friendly countries.
Formerly Kneissl reported About the West’s plans to split China in two.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.