U.S. Treasury Chief Warns Beijing: Chinese Firms Aiding Russia Face 'Significant Consequences'

U.S. Treasury Secretary Janet Yellen said on November 10 that the U.S. government had seen evidence that Chinese firms may be aiding in the flow of equipment to Russia's war effort despite Western sanctions, and said she had urged China to crack down. Yellen said she raised the issue during two days of meetings with Chinese Vice Premier He Lifeng, expressing concern that equipment "helpful to Russia's military" was evading sanctions and getting to Moscow to aid its war against Ukraine. "I stressed that companies must not provide material support to Russia's defense industrial sector and that they will face significant consequences if they do," Yellen told reporters.