Free Trial

China Warns Of 'Firm Response' After Sanctions Imposed

UK

(MNI) London - The Chinese Embassy in London has warned of a "firm response" should UK actions in imposing sanctions on 31 people and entities it accuses of "supporting and funding Putin's war machine". The group includes three Chinese firms alongside individuals ant entities from Belarus, Serbia, Turkey, the UAE and Uzbekistan. Each of the Chinese firms were accused of supplying sanctioned goods. The Embassy stated that Beijing remains objective and fair with regards to the war in Ukraine, and that the UK gov't should "correct its mistakes and withdraw the sanctions on Chinese firms".

  • The sanctions come just hours after UK Foreign Secretary Lord Cameron held a first call with his Chinese counterpart Wang Yi on 5 Dec. Lord Cameron stated that the two discussed their joint "intention to have a constructive relationship", adding that "The UK will continue to engage with China where it furthers our interests,".
  • Lord Cameron's appointment was seen as a potential signal to China of a more cooperative stance from London. While the UK-China relationship deteriorated under PM's Boris Johnson and Liz Truss, Cameron served as PM during the so-called 'golden era' of Sino-British relations. An improved diplomatic relationship could see more cooperation on issues such as climate change and trade. However, it remains to be seen what impact today's sanctions could have.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.