US Treasury Secretary Janet Yellen Warns of Sanctions on Chinese Firms Supplying Equipment to Russian Defense Industries

US authorities say they have seen signs that Chinese companies can help Russia circumvent sanctions. The US took this up with China on Friday.

In a meeting with Chinese Vice Premier He Lifeng, US Treasury Secretary Janet Yellen said she was concerned that Chinese products that could be “helpful to Russia” were circumventing Western sanctions.

– I emphasized that companies must not make material contributions to the Russian defense industry, and that there will be serious consequences if they do so, Yellen said at a press conference after the meeting.

She says she is not accusing the Chinese government of anything, but that the US has noticed some private companies in China that have facilitated the flow of equipment to Russia’s military.

If China does not do anything, the US can introduce sanctions against these actors, says Yellen.

The meeting between Yellen and He is part of the preparations for the planned meeting between President Joe Binde and Xi Jinping next Wednesday. The two leaders are due to meet when Xi attends the Asia-Pacific Cooperation (Apec) summit in San Francisco.