The US Treasury Department has warned Chinese companies of sanctions if they support Russia.
According to Arabiya.net, the ministry announced that companies and banks that deal with Russia will be banned from the global financial system.
She added: We are planning with the allies for more sanctions to isolate Russia.
Bloomberg News quoted informed sources as saying that US President Joe Biden's administration plans to impose new restrictions on Russian exports and other sanctions targeting key industries.
Last Sunday, the agency added that the new sanctions will target the Russian defense and energy sectors, financial institutions and a number of individuals, according to Reuters.
In early February, the United States imposed sanctions on 22 individuals and entities in multiple countries that Washington accuses of being linked to a global network that supports Russia to evade sanctions.
The US Treasury Department said in a statement that the move, which comes as Washington looks to increase pressure on Moscow over the war in Ukraine, is part of US efforts against evading sanctions globally and limiting Russia's access to the revenue it needs for the war.
