Page 17 - Office Of Financial Sanctions Implementation News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Big banks in Britain are preparing for any future escalation of Western sanctions on China and have shared their "scenario planning" with the British and U.S. governments, a senior banking official has told Reuters. The project involves sharing lessons learned from other sanctions frameworks, including those on Russia, and discussions about the effect any measures imposed on China might have, Neil Whiley, director of sanctions at lobby group UK Finance, said. After many companies were wrongfooted by the speed and breadth of prohibitions on Russia, banks are drawing up contingency plans in case geopolitical tensions between the West and China escalate, seven finance industry sources said.

United kingdomUnited statesCity ofLawrence whiteJoe bidenReed smithCatherine evansIain withersNeil whileyKirstin ridleyLeigh hanssonStefania spezzatiOffice of financial sanctions implementationUs treasury departmentBritain foreign officeEuropean union