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US Treasury Secretary Janet Yellen has warned companies in China against exporting products to Russia that could be used in Moscow's war against Ukraine.
"Companies, including those in China, should not provide material support for Russia's war, and they will face huge consequences if they do," she said in Beijing at the end of her visit to China.
Secretary Yellen said that all banks that transfer money to Russia in order to supply the Russian defense industry with military and other goods are at risk of being targeted by United States sanctions.
Russia has launched an unprovoked invasion of Ukraine in 2022. China, which has not condemned the Russian invasion, has tried to present itself as a potential peace broker, calling on the parties to reach an agreement and presenting a plan to ending the war. However, the Chinese plan has not received much support.
The US has already imposed sanctions on Chinese companies over issues related to Russia. Washington has also sanctioned China for human rights abuses and to slow Beijing's ability to produce advanced semiconductors that could give Beijing a technological edge.
Some Hong Kong residents watch the news as Russian President Vladimir Putin orders the invasion of Ukraine on February 24, 2022.
Yellen stayed in China since last Thursday. During her meetings with Chinese Vice Premier He Lifeng and Premier Li Qiang, the key issue was China's access to industrial capacity.
Beijing has been accused of using industrial subsidies to flood world markets with cheap goods, including renewable energy products. /REL
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