Janet Yellen has issued a warning to Chinese companies over their dealings with Russia
US Treasury Secretary Janet Yellen has told Chinese companies they could face “significant consequences” if they provide material support to Russia in its conflict with Ukraine.
Washington has repeatedly accused China of supplying Moscow with dual-use technology that could bolster its military capabilities, a claim Beijing has denied.
Yellen held a video call with Chinese Vice Premier He Lifeng on Monday as part of her “efforts to responsibly manage the bilateral economic relationship,” according to a press release from the US Treasury.
Yellen “underscored the significant consequences that companies, including those in China, would face if they provide material support for Russia’s war against Ukraine,” according to the document.
She made a similar threat in April, after US Secretary of State Antony Blinken claimed that “China continues to provide materials to support Russia’s defense industrial base.”
The latest meeting also focused on China’s “non-market policies” and alleged “malicious cyber activity,” the Treasury added.
In its own statement on the talks, the Chinese government said Beijing expressed concerns about US economic and trade restrictions, while describing the virtual meeting as “candid, in-depth and constructive.” The statement did not elaborate on the accusations of providing military support to Russia.
Washington has long accused China of supplying Russia with dual-use goods, such as semiconductors and drone systems, which could be used for military purposes in the Ukraine conflict.
The US has imposed targeted sanctions on Chinese firms and individuals deemed responsible for such transactions, citing violations of international sanctions frameworks.
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China has consistently denied allegations of supplying Russia with dual-use technology for military purposes. Officials have insisted that Beijing does not provide weapons to any party involved in the conflict, and maintains stringent controls over the export of dual-use items.
Beijing recently implemented enhanced export control regulations on dual-use items, effective as of December 1, 2024. The measures aim to increase transparency and standardization in the export of goods that can serve both civilian and military applications.
