Jakarta, CNBC Indonesia – China has confirmed that it will not sanction Russia over the attack on Ukraine. This was conveyed by the Chinese banking and insurance regulator.
The chairman of China’s Banking and Insurance Regulatory Commission, Guo Shuqing, emphasized China’s position in the Ukraine-Russia conflict.
“Everyone witnessed the recent military conflict, or war, between Russia and Ukraine. China’s position has been clearly stated by the Ministry of Foreign Affairs. Our international policy is consistent,” he was quoted as saying. CNBC International, Wednesday (2/3/2022).
“Regarding financial sanctions, we don’t support it,” said Guo Shuqing. According to him, this does not effectively solve the problem.
Previously, China’s Ministry of Foreign Affairs dismissed Russia’s attack on Ukraine in recent days as an ‘invasion’ of diction often used by the West. Beijing supports negotiations.
Meanwhile, a number of countries, including the United States (US), Britain and the European Union, have imposed sanctions on Russia. These countries seek to prevent conflict with Ukraine and pressure President Vladimir Putin to stop the invasion.
Late last month, the US, Europe and Canada agreed to remove Russian banks from the interbank messaging system, SWIFT. In a joint statement, the policy ensures that banks can be cut off from the international financial system.
“This will ensure that these banks are cut off from the international financial system and jeopardize their ability to operate globally,” the statement said.
With this policy, Russian banks cannot communicate securely with banks outside their country. Previously, Iran also suffered the same fate in 2014 due to the development of the nuclear program in Tehran.
(npb/npb)
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