Macro

Washington Wants to Turn Chinese Banks Into the Next Battlefield

Lawmakers from both parties are pressing the Treasury to target Chinese banks over their business with Iran. Washington is taking a confrontation it has failed to resolve and looking for ways to extend it into the financial system of another major power. The assumption is that Beijing will eventuall

Source: Armstrong Economics

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DW NOTE

Washington is threatening sanctions on Chinese banks for doing business with Iran while the Strait of Hormuz sits closed and oil has fallen 26% from its peak. Beijing will note that the U.S. has no leverage when it needs China to keep buying Treasuries to fund a $1.4 trillion deficit and can't even keep tankers moving through the Gulf.

Read the full story at Armstrong Economics →

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How the U.S. Is Targeting Iran's Oil Money

The United States has imposed sanctions on a Turkish investment bank and two subsidiaries, accusing them of helping Iran move oil revenue and providing access to the international financial system as Washington intensifies its campaign to squeeze Tehran. The US Treasury Department on September 4 des

Washington Wants to Turn Chinese Banks Into the Next Battlefield

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