Chinese banks that facilitate the export of military and dual-use goods to Russia may become targets of American sanctions, US Treasury Secretary Janet Yellen said on April 8.
During a press conference in Beijing after wrapping up a four-day visit to China, during which she met with State Council Premier Li Qiang and other senior Chinese officials, Yellen said she had had "tough" discussions on national security issues and that she expressed concerns in connection with the support of Chinese companies for the Russian military-industrial complex.
Yellen said she noted that Chinese companies should not provide "material support" to Russia's military efforts or face "significant consequences." “And I once again warned that any banks that provide significant transactions related to the supply of military or dual-use goods to Russia pose the risk of American sanctions,” the US Treasury Department emphasized.
A spokesman for the Chinese Foreign Ministry said in response that the United States is trying to “denigrate normal interstate relations between Russia and China” and that they “should not harm the legitimate interests of Chinese companies.”
Janet Yellen's statements became one of the most visible public warnings from the United States to Chinese companies. Early last year, US Secretary of State Antony Blinken announced that China had provided “non-lethal assistance” to Russia and was considering providing “lethal assistance.”
Since that time, the United States has imposed sanctions against several Chinese companies for violating the ban on exporting goods to Russia that can be used in military production.
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