China says it wants to steer clear of U.S. sanctions over Russia’s invasion of Ukraine

China says it wants to steer clear of U.S. sanctions over Russia’s invasion of Ukraine


Chinese Foreign Minister Wang Yi attends a press conference in Beijing, China on March 7, 2022.

Li Xin | Xinhua News Agency | Getty Images

China’s foreign minister, Wang Yi, says Beijing wants to avoid being impacted by U.S. sanctions over Russia’s war with Ukraine.

“China is not a party to the crisis, nor does it want the sanctions to affect China,” Wang said Monday during a call with Spanish counterpart Jose Manuel Albares to discuss the crisis in Ukraine.

“China has the right to safeguard its legitimate rights and interests.”

His comments are seen as one of Beijing’s most explicit statements yet on the unprecedented barrage of international sanctions imposed against Russia’s corporate and financial system. The measures came in response to the Kremlin’s full-scale offensive into Ukraine, which began Feb. 24.

‘Intense’ talks

Officials from the U.S. and China met on Monday to discuss a range of bilateral issues, including Russia’s war with Ukraine. The talks, which were held in Rome, spanned seven hours and were described as “intense” by one senior administration official.

The U.S. has warned of consequences for any country that provides Russia with support amid the Kremlin’s conflict with Ukraine.

“We are watching very closely to the extent to which the PRC [People’s Republic of China] or any country in the world provides support material, economic, financial, rhetorical otherwise, to this war of choice that President [Vladimir] Putin is waging against the government of Ukraine, against the state of Ukraine and against the people of Ukraine,” State Department spokesman Ned Price said at a news briefing Monday.

“We have been very clear both privately with Beijing and publicly with Beijing that there would be consequences for any such support,” Price said.

CNBC Politics

Read more of CNBC’s politics coverage:

Russian Finance Minister Anton Siluanov said Sunday that the Kremlin was counting on China to help it withstand the fallout from global economic measures imposed against Moscow, Reuters reported.

In speaking with Spain’s Albares, China’s Wang reaffirmed Beijing’s long-held stance of objecting to unilateral sanctions outside of the United Nations.

“China always opposes the use of sanctions to solve problems, and even more opposes unilateral sanctions that have no basis in international law, which will undermine international rules and bring harm to the people’s livelihood of all countries,” Wang said.

— CNBC’s Amanda Macias and Weizhen Tan contributed to this report.



Source

EU leaders urge swift action on unlocking frozen Russian assets to finance Ukraine, document shows
Politics

EU leaders urge swift action on unlocking frozen Russian assets to finance Ukraine, document shows

LONDON — EU heads of state will call for quicker action on the use of immobilized Russian assets at a meeting next week amid growing pressure from U.S. President Donald Trump, according to a document seen by CNBC. The European Commission, the executive arm of the EU, has been looking at how to use about […]

Read More
U.S. Chamber of Commerce sues Trump administration over 0,000 H-1B visa fee
Politics

U.S. Chamber of Commerce sues Trump administration over $100,000 H-1B visa fee

The U.S. Chamber of Commerce on Thursday filed a lawsuit over the Trump administration imposing a $100,000 fee to the H-1B worker visas. Last month President Donald Trump announced plans that would see U.S. companies to pay $100,000 per year for H-1B visas — which allows companies to temporarily hire foreign workers in skilled occupations […]

Read More
Feds to seek indictment against former Trump advisor John Bolton on Thursday: Reports
Politics

Feds to seek indictment against former Trump advisor John Bolton on Thursday: Reports

Former National Security Adviser John Bolton speaks to reporters after speaking in a panel hosted by the National Council of Resistance of Iran – U.S. Representative Office (NCRI-US) at the Willard InterContinental Hotel on Aug. 17, 2022 in Washington, DC. Anna Moneymaker | Getty Images Federal prosecutors in Maryland are expected to ask a grand […]

Read More