At the Great Seven summit, the country has not yet imposed immediate sanctions against Chinese banks cooperating with the Russian regime. Instead, they plan to make the last warning to small Chinese financial institutions that provide assistance to the Russian Federation in avoiding the sanctions of the West. If these banks do not take into account, they are threatened with sanctions.
From this week, the G7 countries will send a strict warning to Chinese banks that have been in cooperation with the Russian Federation. Leaders are expected to focus on the threat that is an increase in trade between China and Russia for war in Ukraine and will consider possible ways to respond to this situation.
It is noted that it is not yet planned to take immediate sanctions against Chinese banks, but the possibility of implementing such measures as restriction of access to the international payment system SWIFT or disconnection from the dollar remains for a later time.
