Beijing slams US bill to punish China for buying Russian oil
3 Min Read
It is noteworthy that Russia-China collaboration is not aimed at a third country.
-
Beijing slams the US bill to punish China for buying Russian oil.
Beijing resolutely opposes any illegal unilateral penalties, said Zhao Lijian, a spokesperson for the Chinese Foreign Ministry said, in response to Washington's intention to punish China for buying Russian oil.
Senator Marco Rubio of Florida filed legislation on Tuesday that would impose sanctions on any firm insuring or registering tankers transporting oil or liquefied natural gas from Russia to China.
"We strongly oppose illegal unilateral sanctions and the exercise of extraterritorial jurisdiction," Zhao told reporters.
Read next: China's refiners buying Russian oil at steep discounts: FT
The cooperation between China and Russia is not aimed at third parties, according to the diplomat, and it will not be weakened by external forces.
"China carries out normal trade and economic cooperation with Russia on the basis of mutual respect, equality, and mutual benefit," the spokesperson added.
US Senators call for sanctions on Russian oil sales to China
Senator Marco Rubio wants the US to punish China's imports of Russian oil and other energy supplies in order to cut off funding for Russia.
China's purchases of Russian oil have increased this year, as the world's largest energy user has taken advantage of inexpensive barrels that European customers had passed over.
Cutting off the flow of Russian petroleum to China might force Beijing to compete more aggressively with other significant purchasers of Middle Eastern and African oil, potentially rising prices.
Read next: Russian economy exceeds expectations: IMF
According to Rubio's office, he proposed a bill Tuesday with fellow Republicans Rick Scott of Florida and Kevin Cramer of North Dakota that would impose fines on any firm insuring or registering tankers moving oil or liquefied natural gas from Russia to China.
By buying Russian energy, China is supporting that country’s war in Ukraine, according to Rubio. “Any entity, including Chinese state-run companies, helping them in that effort should face serious consequences,” he said in a statement.
Read next: New bridge between China, Russia to increase trade turnover to $200B
Chinese Foreign Ministry Spokesperson Zhao Lijian attacked Rubio during a regular press briefing in Beijing on Wednesday, saying he “is known to blame China for everything and knows no political ethics.”
Zhao added that “China is always against unilateral, illegal sanctions and long-arm jurisdiction that have no basis in international law.”
The idea has a slim chance of passing in the Democratic-controlled Senate. It contradicts Biden's administration policy, which tries to keep oil supplies flowing while restricting Russia's energy revenue.
Treasury Secretary Janet Yellen has proposed a price ceiling that would allow customers to continue using Russian crude if they agreed to pay below-market pricing.
The administration is currently developing that policy as it seeks to persuade European partners of the approach and ensure them that Russia will not just shut down the pipeline.
