Reported about 1 year ago
The G7 leaders' summit on June 13 in Italy is expected to focus on China's economic support for Russia, with a warning issued to Chinese small banks aiding Russia to stop helping them evade Western sanctions, threatening punitive measures like restricting the use of SWIFT. While no immediate sanctions will be imposed during the summit, a public statement will be made regarding the Chinese financial institutions involved. The summit will address the growing bilateral trade between China and Russia amid the threat of the Ukraine conflict, with a focus on smaller Chinese financial institutions rather than major banks, aiming to weaken Russia's ability to evade sanctions.
Source: YAHOO