U.S. Treasury Secretary Janet Yellen on Thursday warned of “serious consequences” if Russia works with China to avoid U.S. sanctions, measures taken that have further driven Russia towards an alliance with China.
Speaking at the Group of 20 meeting in India, Yellen continued to use inflamed American rhetoric towards Russia, which critics claim has caused the Ukrainian conflict to escalate and prevent Russian President Vladimir Putin from an off-ramp to end the struggle without impacting his domestic political standing.
“We have made clear that providing material support to Russia or assistance with any kind of systemic sanctions evasion would be a very serious concern for us,” Yellen said. “We will certainly continue to make clear to the Chinese government and the companies and banks in their jurisdiction about what the rules are regarding our sanctions and the serious consequences they would face for violating them.”
On Tuesday, President Joe Biden announced he plans to implement more sanctions “this week” on Russia hours after Putin suspended a nuclear treaty with America.
FILE – President Joe Biden listens as he meets virtually with Chinese President Xi Jinping from the Roosevelt Room of the White House in Washington, Monday, Nov. 15, 2021. Just 40% of U.S. adults approve of how President Joe Biden is handling relations with China, a new poll shows, with a majority anxious about Beijing’s influence as the White House finds its agenda increasingly shaped by global rivalries. (AP Photo/Susan Walsh, File)
The package will sanction about 200 individuals, including “Russian governors and the family members of Russian government officials,” along with “defense and related materials targets, technology firms and alleged sanctions-evasions networks,” according to the Wall Street Journal.
The Biden administration has imposed approximately 1,500 new and 750 amended sanctions and export controls against Russia since the Ukrainian war began last year, the State Department estimates.
Even with more sanctions expected this week, Yellen noted additional sanctions could occur against the Russian economy to force Putin into domestic political jeopardy.
“We are seeking to strengthen sanctions and make sure that we address violations of sanctions,” Yellen said. “We have deprived them of many channels they can obtain material that is critical for their defense efforts. That is a particular focus we have in mind in respect to enforcement of existing sanctions and perhaps with respect to further sanctions.”
On the same day Biden announced another round of sanctions against Russia, Putin suspended a 2011 nuclear pact that sought to limit Russian and American nuclear development.
Notably, the pact signed under the Obama administration excluded China. The Trump administration was critical of the deal years later and called for a new agreement. Meanwhile, the Chinese, untethered by any deal, increased its nuclear stockpile.
Follow Wendell Husebø on Twitter @WendellHusebø. He is the author of Politics of Slave Morality.
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