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US Warns China Off “Material” Support for Russia

RUSSIA
EM Bulletmarkets-real-timeBulletEmerging Markets
  • The US Deputy Secretary of State has issued a broadside toward Chinese support for Russia, stating that “material support” for the war in Ukraine from China would result in sanctions.
  • US Commerce Secretary Raimondo spoke overnight, stating that US and allied action on sanctions have led to Russia’s access to high-tech imports and parts being cut by more than half. The targeted sanctions have frustrated Russia’s ability to manufacture and service military equipment, with tanks, satellites and rocket-mounting systems mentioned specifically.
  • US Treasury Secretary Yellen cautioned overnight about a European outright ban on Russian oil imports, warning that it could hurt European and other economies without inflicting as much impact on Russia as hoped.
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  • The US Deputy Secretary of State has issued a broadside toward Chinese support for Russia, stating that “material support” for the war in Ukraine from China would result in sanctions.
  • US Commerce Secretary Raimondo spoke overnight, stating that US and allied action on sanctions have led to Russia’s access to high-tech imports and parts being cut by more than half. The targeted sanctions have frustrated Russia’s ability to manufacture and service military equipment, with tanks, satellites and rocket-mounting systems mentioned specifically.
  • US Treasury Secretary Yellen cautioned overnight about a European outright ban on Russian oil imports, warning that it could hurt European and other economies without inflicting as much impact on Russia as hoped.