China Opposes U.S. Sanctions on Chinese Companies Allegedly Tied to Russia's War Effort in Ukraine

https://icaro.icaromediagroup.com/system/images/photos/16331727/original/open-uri20240825-17-dvlusd?1724624405
ICARO Media Group
Politics
25/08/2024 22h16

In a strong statement on Sunday, China expressed its opposition to the recent sanctions imposed by the United States on several Chinese companies over their alleged involvement in Russia's ongoing conflict in Ukraine. The Chinese government pledged to take necessary measures to protect the rights and interests of its businesses.

The U.S. Department of State had announced sweeping sanctions on hundreds of firms in Russia as well as in Europe, Asia, and the Middle East on Friday. The sanctions were imposed on grounds of these companies providing products and services that enable Russia's war effort and aid in its evasion of existing sanctions.

The Chinese Ministry of Commerce firmly opposed the inclusion of multiple Chinese companies on the U.S. export control list, which prevents them from conducting trade with American firms without obtaining a special license that is difficult to obtain. Labeling the U.S. action as "typical unilateral sanctions," the ministry cautioned that such measures would disrupt global trade orders and rules, while also affecting the stability of the global industrial and supply chains.

In response to the U.S. sanctions, China called for an immediate cessation of what it deems as "wrong practices" and stated that it will take necessary measures to steadfastly protect the legitimate rights and interests of Chinese companies.

The U.S. action comes as a continuation of the thousands of sanctions imposed on Russian firms and their suppliers in other nations since Russia's invasion of Ukraine in February 2022. However, the effectiveness of these sanctions has been questioned, particularly as Russia has managed to sustain its economy by selling oil and gas on international markets.

According to the U.S. State Department, certain Chinese-based companies have been supplying machine tools and components to Russian firms involved in the conflict. China has maintained a position of neutrality in the Ukraine conflict but shares a mutual animosity towards the West with Russia.

Furthermore, after Western countries imposed substantial sanctions on Russian oil following Russia's military intervention in Ukraine, China significantly increased its purchase of Russian oil, thus strengthening its influence in the region. This was underscored by Russian President Vladimir Putin's visit to Beijing, where he met with Chinese leader Xi Jinping shortly after beginning his fifth term in office.

As tensions between the United States, China, and Russia continue to mount, the ramifications of these latest sanctions and China's opposition to them may have significant implications for global trade and geopolitical dynamics.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

Related