Washington is ready to introduce more sanctions against China over its alleged transfer of dual-use goods and components, which it claims can be used by the Russia, US Secretary of State Antony Blinken said on Friday.
Speaking at a press conference in Beijing following a meeting with Chinese President Xi Jinping, the US official recalled that Washington has already imposed sanctions against more than 100 Chinese entities and is “fully prepared to act” and “take additional measures.”
Blinken claimed that China’s alleged support for the Russian defense industry raises concerns not only about the situation in Ukraine, but also about a “medium to long-term threat that many Europeans feel viscerally that Russia poses to them.”
Earlier this week, the Wall Street Journal also reported that the US was drafting sanctions that could cut off some Chinese banks from the global financial system unless Beijing severs its economic ties with Russia.
The outlet claimed that US officials believe trade with China has allowed Russia to rebuild its military industrial capacity and could help it defeat Ukraine in a war of attrition.
Beijing, in turn, has accused the US of hypocrisy for providing billions of dollars in assistance to Ukraine while “unreasonably criticizing the normal trade and economic relations between Russia and China.”
“This is a very hypocritical and irresponsible approach,” Chinese Foreign Ministry spokesman Wang Wenbin told reporters on Friday in response to Blinken’s concerns about Beijing's support of Moscow.
China has also vehemently rejected accusations leveled by NATO Secretary-General Jens Stoltenberg of “fueling” the Ukraine conflict. Beijing has instead blamed NATO for instigating the crisis by continuing its expansion in Europe and refusing to respect Russian national security concerns.
Following his meeting with Blinken, Xi suggested that the US and China “should be partners, not rivals” and should strive towards achieving “mutual success and not harm each other.”
“I proposed three major principles: mutual respect, peaceful coexistence, and win-win cooperation. They are not only a summary of past experience, but also a guide to the future,” the Chinese leader was quoted as saying.
Beijing has maintained a policy of neutrality on the Ukraine conflict, with Chinese officials repeatedly stating that the country is not selling weapons to either Russia or Ukraine. Earlier this month, Chinese Foreign Ministry spokesman Mao Ning insisted that China “regulates the export of dual-use articles in accordance with laws and regulations,” urging “relevant countries” not to “smear or attack the normal relations between China and Russia.”
In December last year, US President Joe Biden issued a decree which enabled sanctions on foreign financial institutions that continue to deal with Russia. It targeted lenders outside US and EU jurisdictions that help Russia source sensitive items, which reportedly include semiconductors, machine tools, chemical precursors, ball bearings, and optical systems.