Treasury Secretary Janet Yellen warned in Beijing on Monday that Chinese banks that facilitate support for Russia during the Ukraine war could face U.S. sanctions.
“We remain concerned about the role played by all businesses, including those around the world. [People’s Republic of China]is involved in Russian military procurement,” Yellen said at a press conference after her visit to China.
“I have emphasized that companies, including Chinese companies, must not provide material support to Russia’s war effort and will face serious consequences if they do,” she continued. Ta. “And I have emphasized that banks that facilitate significant transactions that distribute munitions and munitions to Russia’s defense industrial base are at risk of U.S. sanctions.”
The Biden administration has previously warned China against supporting Russia’s war against Ukraine, which has now been going on for more than two years.
Secretary of State Antony Blinken said last year that Beijing was providing non-lethal support to Moscow and was considering sending lethal aid.
Blinken, Yellen and other administration officials issued stern warnings to Beijing, and the State Department sanctioned several Chinese companies for violating export control measures against Russia.
Yellen’s latest warning against Chinese banks comes as additional U.S. aid to Ukraine stalls in Congress in the face of Republican opposition.
Speaker Mike Johnson (R-Louisiana) said over the weekend that the House would consider the long-delayed aid request “immediately” after the two-week Easter recess. But the move could spark a backlash as Rep. Marjorie Taylor Greene (R-Ga.) threatens to force a vote to reject Johnson’s removal from office.
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