China Denies Ukraine War "Profit", Defends "Normal Trade With Russia" As US Mulls Banking Sanctions
The US is drafting sanctions that threaten to cut some Chinese banks off from the global financial system, according to a report. US officials hope that this will stop Beijing's commercial support of Russia's military production, as per the Wall Street Journal (WSJ). Secretary of State Antony Blinken slammed Chinese support for Russia's defence industry, days before his planned visit to Beijing this week. US officials say targeting Chinese banks with sanctions is an escalatory option in case the diplomatic overtures fail, as per the WSJ. Watch the video to know will US risk a major escalation with China?
