U.S. Treasury Secretary, Janet Yellen, expressed concern on Friday that Chinese firms may be assisting in the flow of equipment to Russia’s war effort despite Western sanctions. Yellen revealed that she had raised this issue during her meetings with Chinese Vice Premier He Lifeng and emphasized the need for China to take action.
Yellen stated that she had stressed the importance of companies refraining from providing material support to Russia’s defense industrial sector. She warned that significant consequences would be faced by those who violated this directive. Yellen asserted that the United States is committed to doing everything possible to halt the flow of material aiding Russia in its brutal and illegal war against Ukraine. She further cautioned that any companies found to be aiding Moscow’s war effort could face sanctions.
The U.S. government has already imposed sanctions on several private firms, including some in China, that have been involved in assisting Russia with equipment. Financial institutions that could be aiding these efforts have also faced sanctions. Yellen expressed hope that China would take action against this issue, especially when provided with information. However, she did not disclose the names of the companies involved or Vice Premier He’s reaction.
Yellen clarified that the Chinese firms in question were private entities, and she was not suggesting that their actions were occurring with the knowledge or involvement of the Chinese government.
