Chinese and Indian banks could lose access to US dollar and correspondent banking services as secondary sanctions against Russia ramp up, experts warn.
“The risk is that they [Chinese and Indian banks] will lose access to G7 financial institutions and financial services, the dollar, and other assets held in in the US — but also broader G7 countries — could also be seized,” said Gonzalo Saiz, a research fellow at UK think-tank the Royal United Services Institute’s Centre for Finance and Security.
