The Biden administration has announced new financial sanctions targeting the growing technological collaboration between China and Russia, which is believed to be supporting Russia's military modernization during the conflict with Ukraine. The sanctions aim to isolate Russia's war economy and deter global banks, particularly in China, from financing Russia's war efforts. The measures also restrict the stock exchange in Moscow and target Chinese companies aiding Russia's access to critical military equipment. The administration is urging European and Asian allies to take similar actions and warning China about its support for the Russian defense industry. The move reflects a broader effort to degrade the Russian economy and counter China's military collaboration with Russia.