Cryptocurrencies

    US holds off sanctioning Chinese banks over Russia support

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    The United States has preliminarily discussed sanctions on Chinese banks over their support for Russia but has no immediate plan to implement such measures, according to a US official.

    The hope is that diplomatic efforts will resolve concerns about Beijing's role in aiding Russia.

    While reports suggest drafting of sanctions, the White House and Treasury Department have not confirmed this.

    Previous reluctance to sanction major Chinese banks is due to concerns over potential global economic repercussions and strain on US-China relations.

    China opposes US accusations, asserting its right to normal economic exchanges with Russia.

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