Dep Tresury Sec Adeyemo To Target China In Tightening Of Russia Sanctions

MNI London: US Deputy Treasury Secretary Wally Adeyemo will deliver major remarks in Germany tomorrow, "on further steps needed to tighten our sanctions on Russia as it transitions to a war economy." Adeyemo is expected to urge EU partners to hold China accountable for its trade relationship with Moscow.

• The remarks comes as Biden administration officials note that the US-led sanctions regime on Russia has failed to signficantly impact Russian military industrial complex. NPR notes that Deputy National Security Advisor, and archiect of sanctions, Daleep Singh said that, "sanctions are like antibiotics. Repeat usage builds up resistance... thus the U.S. and its allies keep adapting them."
• According to prepared remarks, Adeyemo will say on China: "Last year, Russia imported $5.2 billion worth of sensitive, dual-use goods from China-based suppliers, an increase of over 40 percent in just one year. The Kremlin knows it can only meet its military goals with China’s assistance."
• Adeyemo: “Every country in our coalition and every member of NATO must also consistently and clearly communicate to Beijing that it is unacceptable for Chinese to abet the Russian military-industrial base."
• Adeyemo: “The EU as a whole is China’s largest export market, and China remains the largest exporter in key sectors like chemicals and machinery to the EU. We recognize the EU’s economic relationship with China is mutually significant, and we must make the choice stark for China: Chinese firms can either do business in our economies or they can equip Russia’s war machine with dual-use goods. They cannot do both.”