US Treasury Secretary Janet Yellen has issued a warning to Chinese companies, stating that there will be repercussions if they choose to provide parts or equipment to the Russian military. While on a multi-day trip to Beijing, Yellen expressed her concern about China flooding global markets with inexpensive goods.
According to a statement from the US Treasury, Secretary Yellen made it clear that companies, including those in the PRC, should not offer any assistance to Russia's war against Ukraine, including support to the Russian defense industrial base. This statement was released after Yellen's meeting with her Chinese counterpart, He Lifeng, in Guangzhou on Friday.
The statement continued by emphasizing that these firms would face significant consequences if they choose to do so, as warned by Yellen.
American officials have consistently cautioned Chinese companies about engaging in business with the Russian military ever since Moscow initiated its operation in Ukraine in 2022. Yellen recently issued a warning regarding the involvement of Chinese firms in supplying microelectronics and machine tools for tank production, as well as optics and propellants for missiles.
There has been no response from Moscow or Beijing regarding the report, despite their consistent denial of American allegations that Russia has purchased ammunition and technology with both military and civilian uses from China.
In the past two years, Russian President Vladimir Putin and Chinese President Xi Jinping have strengthened their military and diplomatic collaboration. In February 2022, both leaders announced a partnership with no boundaries. Through their partnership, Russia has emerged as China's primary source of oil. Additionally, the Russian space agency Roscosmos recently revealed plans to collaborate with China on the construction of an automated nuclear reactor on the moon by 2035.
During her speech to Chinese officials and American business figures on Friday, Yellen emphasized the importance of fostering a strong economic partnership between the US and China. Nevertheless, she expressed some specific concerns about Beijing, alleging that China is providing excessive subsidies to its industries, resulting in Chinese manufacturers producing an excess of goods for export.
According to a statement from the US Treasury, Secretary Yellen made it clear that companies, including those in the PRC, should not offer any assistance to Russia's war against Ukraine, including support to the Russian defense industrial base. This statement was released after Yellen's meeting with her Chinese counterpart, He Lifeng, in Guangzhou on Friday.
The statement continued by emphasizing that these firms would face significant consequences if they choose to do so, as warned by Yellen.
American officials have consistently cautioned Chinese companies about engaging in business with the Russian military ever since Moscow initiated its operation in Ukraine in 2022. Yellen recently issued a warning regarding the involvement of Chinese firms in supplying microelectronics and machine tools for tank production, as well as optics and propellants for missiles.
There has been no response from Moscow or Beijing regarding the report, despite their consistent denial of American allegations that Russia has purchased ammunition and technology with both military and civilian uses from China.
In the past two years, Russian President Vladimir Putin and Chinese President Xi Jinping have strengthened their military and diplomatic collaboration. In February 2022, both leaders announced a partnership with no boundaries. Through their partnership, Russia has emerged as China's primary source of oil. Additionally, the Russian space agency Roscosmos recently revealed plans to collaborate with China on the construction of an automated nuclear reactor on the moon by 2035.
During her speech to Chinese officials and American business figures on Friday, Yellen emphasized the importance of fostering a strong economic partnership between the US and China. Nevertheless, she expressed some specific concerns about Beijing, alleging that China is providing excessive subsidies to its industries, resulting in Chinese manufacturers producing an excess of goods for export.
