Chinese Banks Halt Russian Deals Amid U.S. Sanctions

Mark Eisenberg
Photo: Finoracle.net

Chinese Banks Reduce Russian Transactions

Chinese banks are significantly curbing transactions with Russia due to fears of losing access to the U.S. dollar and being excluded from international financial systems. This action aligns with the U.S. sanctions warning against foreign institutions aiding companies that support the Russian military.

In December 2023, the U.S. issued an executive order threatening sanctions on foreign banks supporting Russia. Initially, these threats weren't enforced, but recent aggressive stances on secondary sanctions have pushed China to reduce business dealings with Russian entities.

Tom Keatinge, director of the Center for Finance and Security in London, explained that the U.S. demands a choice: either maintain access to the international financial system or continue minimal business with Russia.

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Mark Eisenberg is a financial analyst and writer with over 15 years of experience in the finance industry. A graduate of the Wharton School of the University of Pennsylvania, Mark specializes in investment strategies, market analysis, and personal finance. His work has been featured in prominent publications like The Wall Street Journal, Bloomberg, and Forbes. Mark’s articles are known for their in-depth research, clear presentation, and actionable insights, making them highly valuable to readers seeking reliable financial advice. He stays updated on the latest trends and developments in the financial sector, regularly attending industry conferences and seminars. With a reputation for expertise, authoritativeness, and trustworthiness, Mark Eisenberg continues to contribute high-quality content that helps individuals and businesses make informed financial decisions.​⬤