The U.S. said Tuesday it is sanctioning a group of people and firms from Iran, China and Hong Kong associated with the alleged development of Iran’s ballistic missile program.
China sentenced a 78-year-old United States citizen to life in prison Monday on spying charges, in a case that could exacerbate the deterioration in ties between Beijing and Washington over recent years.
Chinese leader Xi Jinping said Wednesday that Beijing will send an envoy to Ukraine to discuss a possible “political settlement” to Russia’s war with the country.
The confiscation of Russia’s central bank reserves and potential plans to use them to help Ukraine were thought to cut the dollar’s attractiveness. The U.S.’s increasing reliance on sanctions and weaponizing access to the dollar have escalated the talk of alternatives.
President Joe Biden said Tuesday that Republicans’ ideas for cutting the budget could undermine U.S. manufacturing and help China dominate the world economy.