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US Targets Chinese Banks Supporting Russia In War Effort

A logo of an Oversea-Chinese Banking Corporation (OCBC) bank is pictured outside an automated teller machine booth in Singapore

The United States is set to target Chinese banks that are allegedly aiding Russia in its war efforts, as reported by The Wall Street Journal. This move comes as part of the US government's efforts to ramp up pressure on entities supporting Russia's invasion of Ukraine.

According to the report, the US is planning to take action against Chinese financial institutions that have been facilitating transactions for Russia, providing crucial financial support to the country amidst international sanctions.

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