Wednesday's package targeted Chinese companies which help Russia pursue its war in Ukraine and raised the stakes for foreign financial institutions which work with sanctioned Russian entities.
Russia’s military is “desperate for access to the outside world,” said Treasury Secretary Janet Yellen. On Wednesday the U.S sanctioned a Chinese state-owned defense company which officials said had shipped military equipment for use in the Russian defense sector. “The Chinese leadership is not interested in making these sanctions a success,” said Janis Kluge, a Russia sanctions specialist at the German Institute for International and Security Affairs in Berlin
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