US actions against China’s 'support' for Russia are working: Treasury

By Al Mayadeen English
Source: Agencies
10 Jul 2024 23:17

The US has been implementing a series of measures targeting China due to it's alleged support for Russia's defense industrial base.

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Russian President Vladimir Putin, right, and Chinese President Xi Jinping leave a concert marking the 75th anniversary of the establishment of diplomatic relations between Russia and China and opening of China-Russia Years of Culture at the National Centre for the Performing Arts in Beijing, China, on Thursday, May 16, 2024 (Alexander Ryumin, Sputnik, Kremlin Pool Photo via AP)

During a discussion hosted by the Council on Foreign Relations think tank in Washington on Wednesday, US Treasury Under Secretary for International Affairs Jay Shambaugh stated that the US aims to prevent its concerns over China's alleged support for Russia's defense industrial base from escalating into a major bilateral issue.

"We really don't want this to become a bilateral issue between US and China because we don't see it as one that should be," Shambaugh said.

Shambaugh mentioned that the US' newest actions to stop China from providing Russia with particular dual-use technologies are beginning to have an effect, and noted that addressing this matter has required a “huge amount of time” from Treasury officials.

Since February 2022, Beijing has become Russia's largest market for oil and gas, as well as a major source of imports. Alarmed by this partnership, the White House in December 2023 threatened sanctions on any bank facilitating payments for Russian military equipment.

US Treasury Secretary Janet Yellen and Secretary of State Antony Blinken made separate visits to China earlier this year, issuing warnings to Chinese leaders and financial institutions.

Despite these threats, both the Russian and Chinese governments have shown remarkable resilience, which has added to mounting pressure in Western consciousness.

In May, the White House announced its decision to increase tariffs on Chinese imports which include electric cars, solar panels, and steel, to shield local businesses from China's alleged unfair trade practices. In response, Beijing vowed to take all necessary measures to protect its interests.

The Chinese Embassy in Washington has repeatedly denied that China has supplied weapons to either Russia or Ukraine and has called on the US to avoid criticizing the strategic partnership between Beijing and Moscow.

The Embassy also underscored that China is actively working to facilitate a peaceful political settlement for the Ukraine conflict and that trade relations between China and Russia should not be subjected to interference or restrictions.