US to take aim at Chinese banks aiding Russia's war effort, — The Wall Street Journal.

The US is drafting sanctions that threaten to cut some Chinese banks off from the global financial system, arming Washington’s top envoy with diplomatic leverage that officials hope will stop Beijing’s commercial support of Russia’s military production.

It is noted that it was China's aid that allowed Russia to restore its military-industrial potential, as Beijing became the main supplier of electronic circuits, aircraft parts, machinery, and machine tools. In addition, some Chinese banks operate as intermediaries in commercial exports to Russia, processing payments and providing client companies with loans for trade operations.

According to the publication, sanctions against banks may be imposed if China ignores “diplomatic pressure” from Washington.