The U.S. Treasury is considering imposing sanctions on Chinese banks that are allegedly helping Russia bypass international restrictions. This move comes as part of ongoing efforts to tighten economic pressure on Russia and disrupt alternative financial channels being used for international settlements. The potential sanctions could significantly impact global trade, particularly in the energy and commodities sectors, where Russia maintains strong economic ties with China.
Analysts suggest that if these sanctions take effect, Russia may accelerate its reliance on cryptocurrency as an alternative to traditional financial systems. The move could also strain economic relations between the U.S. and China while reshaping global payment networks. If Russia and China continue to seek alternative solutions, crypto adoption could see a notable boost as a sanctions-resistant option.
Source: Bitcoin.com