Treasury Secretary Concludes Trip to China

She advocated the continued boycott of Russia during her visit.

Secretary of the Treasury Janet Yellen concluded her five-day visit with Chinese Premier Li Qiang this week with a press conference, saying that she warned Chinese leaders of the potential consequences facing those continuing to make trade deals with Russia.

Secretary Yellen stated, “We continue to be concerned about the role that any firms, including those in the [People’s Republic of China], are playing in Russia’s military procurement.”

Russia’s war against Ukraine has gone on for more than two years and, last year, the Department of State attributed some of Russia’s successes to Chinese assistance. Though China has only sent nonlethal aid to Russia’s military thus far, President Biden’s administration believes that China is considering sending lethal assistance soon. 

“I stressed that companies, including those in the PRC, must not provide material support for Russia’s war and that they will face significant consequences if they do,” Secretary Yellen said. “And I reinforced that any banks that facilitate significant transactions that channel military or dual-use goods to Russia’s defense industrial base expose themselves to the risk of U.S. sanctions.”

As the Lord Leads, Pray with Us…

  • For Secretary Yellen to seek God’s direction as she leads the Treasury Department.
  • For wisdom for U.S. officials as they evaluate the policies regarding China, trade, and assistance to Ukraine.

Sources: The Hill, CNN


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