Yellen Cautions Beijing, Saying That Chinese Companies Supporting Russia Risk “Serious Consequences”

The U.S. Treasury Secretary Janet Yellen stated that China has been pressed to take action after the U.S. government discovered evidence that Chinese companies may be assisting Russia’s war effort with equipment despite Western sanctions.

Yellen claimed to have brought up the matter with Chinese Vice Premier He Lifeng during their two days of talks, voicing worry that supplies “helpful to Russia’s military” were making their way to Moscow to support Moscow’s conflict with Ukraine while dodging sanctions.

“I stressed that companies must not provide material support to Russia’s defense industrial sector and that they will face significant consequences if they do,” Yellen told reporters at a news conference in San Francisco.

“We are determined to do all that we can to stem this flow of material that aids Russia in conducting this brutal and illegal war,” Yellen said, warning that any companies aiding Moscow’s war effort could face sanctions.

She stated that in addition to some financial institutions that might be supporting that endeavour, the U.S. government had already placed sanctions on a number of private companies, some of which were in China, that were assisting Russia in obtaining equipment.

“We would like to see China crack down on this, especially when we’re able to provide information,” she said. She gave no further details on the names of the companies involved or He’s reaction.

Yellen emphasised that the Chinese companies in question were private and clarified that she was not implying that the Chinese government was aware of this.

(Adapted from JapanTimes.co.jp)



Categories: Economy & Finance, Geopolitics, Regulations & Legal, Strategy, Uncategorized

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