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MNI BRIEF: China Will Not Impose Financial Sanctions On Russia

MNI (Singapore)
BEIJING (MNI)

China will not participate in financial sanctions against Russia and will keep normal trade and financial cooperation, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC) said on Wednesday in a briefing to reporters.

China disagrees with financial sanctions, particularly unilateral ones, which are “not good” and lack a legal basis, said Guo, also party chief of the People’s Bank of China (PBOC)., see: MNI: Select Russian Banks Barred From SWIFT By U.S. And Allies

Sanctions would limitedly impact China’s financial sector and the economy which are resilient and stable, he said.

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