The United States warned Chinese banks and export companies about the consequences of helping to strengthen Russia's military potential. This was stated by US Treasury Secretary Janet Yellen at the end of four-day talks in China, Bloomberg reports.
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< p>“I emphasized that companies, including those in China, should not provide material support to Russia’s war, and that they would face significant consequences if they did so,” Yellen said.
“Any banks facilitating significant transactions for the supply of military or dual-use goods for the Russian defense-industrial sector expose themselves to the risk of US sanctions,” added the head of the US Treasury Department.
China has already received similar warnings from the United States, but Yellen’s statement Beijing indicates an extreme level of threat of sanctions, Bloomberg notes. It came on the same day that Russian Foreign Minister Sergei Lavrov arrived in Beijing for talks.
The Biden administration is trying to influence companies around the world that are helping Russia circumvent sanctions imposed in response to the invasion of Ukraine in 2022. The main weapon of the United States against financial institutions is the ability of the Ministry of Finance to block their access to dollars, which poses a threat to the international operations of any bank.
Recall that previously several Chinese banks stopped accepting payments from Russia, even in yuan, funds for such transactions are returned to Russian clients.