China will not apply sanctions against Russia
The authorities from China refused this week to join the sanctions against Russia, which the European Union and the United States have already done
The Chinese authorities refused to join the sanctions imposed by the European Union and the United States against Russia for the invasion of Ukraine and have vindicated their position, contrary to the imposition of these measures.
In a press conference, the president of the China Banking and Insurance Regulatory Commission, Guo Shuqing, indicated that “they will continue with regular exchanges at the economic, commercial and financial level” with all relevant parties.
Thus, the official pointed out that he “disapproves financial sanctions, particularly those imposed unilaterally, because they lack a sufficient legal basis and will not have positive effects.”
China is the largest buyer of Russian oil and gas and has avoided condemning the Russian attack on Ukrainian soil. However, Guo expressed his concern about the current situation. “We don’t think these sanctions are going to have a big impact on China in the future because our economy and finances are very resilient and stable.”
However, senior officials of the US Administration indicated that China has no intention of helping Russia after the harsh economic sanctions imposed against its banks internationally.
K. Tovar
Source: DW
