July 7, 2022

China wants to avoid US sanctions over Russia’s war

Chinese Foreign Minister Wang Yi attends a press conference on March 7, 2022 in Beijing, China.

Li Chin | Xinhua News Agency | Getty Images

Chinese Foreign Minister Wang Yi says Beijing wants to avoid being hit by US sanctions Russia’s war with Ukraine.

“China is not a party to the crisis and sanctions do not want to affect China,” Wang said Said During a call with Spanish Prime Minister Jose Manuel Albarez on Monday to discuss the crisis in Ukraine.

“China has a right to defend its legitimate rights and interests.”

His comments are seen as one of Beijing’s most outspoken statements in the wake of an unprecedented barrage of international sanctions against Russia’s corporate and financial system. These measures were taken in response to the Kremlin’s full – scale offensive in Ukraine, which began on February 24.

As the Kremlin intensifies its attack on Ukraine, the White House has warned China not to provide economic livelihoods for Russia. The United States says it fears China, a key strategic ally of Moscow, may seek to reduce the impact of the measures. Designed to destroy Russia’s economy If the war continues.

There are concerns Among market participants Following reports that Moscow has asked Beijing for help in supporting its invasion of Ukraine, Chinese companies could soon face financial penalties.

China has denied the reports, while Russia has said it is not seeking military assistance from Beijing.

Since Russia’s invasion of Ukraine, Beijing has refused to call this an invasion He also said that China would maintain regular trade with both countries. China has not joined the sanctions imposed on Russia by the United States, the European Union and other countries.

However, China has said it is “deeply concerned” about the crisis in Ukraine.

‘Serious’ talks

US and Chinese officials met on Monday to discuss bilateral issues, including Russia’s war with Ukraine. The talks, which took place in Rome, Italy, lasted 7 hours.Serious“By a senior executive.

The United States has warned of repercussions for any country that supports Russia amid the Kremlin’s war with Ukraine.

“We are closely monitoring the extent to which the PRC exists [People’s Republic of China] Or any country in the world that provides material, economic, financial, rhetorical, etc. support for this war of choice. [Vladimir] Putin is fighting against the Ukrainian government, against the Ukrainian government and the people of Ukraine, “said State Department spokesman Netflix at a news conference on Monday.

“We are very clear with Beijing personally and publicly with Beijing that such support will have consequences,” Price said.

Russia’s Finance Minister Anton Siluvanov said on Sunday that the Kremlin hoped China would withstand the downturn in global economic activity imposed against Moscow. Reuters reported.

Speaking to Alberza of Spain, Wang of China reaffirmed Beijing’s long-standing position against unilateral sanctions outside the United Nations.

“China has always opposed the use of sanctions to solve problems, and opposes unilateral sanctions that have no basis in international law, undermining international norms and endangering the livelihoods of people in all countries,” Wang said.

– CNBC’s Amanda Macias & Weisen Tan contributed to this report.