China’s state-owned banks are tightening restrictions on financing Russian clients after the US imposed sanctions on foreign financial firms that help Russia.
Bloomberg news agency writes about this, citing sources.
As specified in the article, at least two banks in recent weeks have begun a review of their business in Russia, focusing on cross-border transactions.
In late December, US President Joe Biden signed an executive order expanding the legal grounds for imposing sanctions against Russia. The document notes that this makes it possible to disconnect from the financial system banks found to have assisted Russia in circumventing sanctions against its military-industrial complex.