Major Chinese banks are limiting payments for transactions with Russia, fearing U.S. sanctions, Reuters reported on April 29, citing undisclosed trading and banking sources. The Wall Street Journal reported last week that Washington is drafting sanctions that will threaten to cut off Chinese banks that aid Russia’s war effort from the global financial system. Chinese banks have stepped up scrutiny of Russia-related transactions since March or stopped doing business with Russia at all to avoid U.S. sanctions, the sources told Reuters. “Transactions between China and Russia will increasingly go …