China not involved in the Ukraine Conflict – will avoid attracting US Sanctions: Chinese Foreign Minister Wang Yi

Beijing/Rome/Washington: – Chinese Foreign Minister Wang Yi appealed that China is not a part of the Russia-Ukraine conflict. Therefore, no sanctions should be imposed against China concerning it. The United States and European countries have started pressurising China to stop assisting Russia. US National Security Advisor Jake Sullivan met senior Chinese leader Yang Jiechi as part of these efforts. It has been reported that the United States issued a warning to China during this meeting. Against this background, the statement of the Chinese Foreign Minister becomes significant.

Moreover, the United States, Europe and their allies have imposed formidable harsh sanctions against Russia following the attack on Ukraine. Russia is using various options to counter the effects of the sanctions and Chinese cooperation is the most important option. Last month itself, Russian President Vladimir Putin had visited China and met Chinese President Xi Jinping. It was announced after the meeting that both the countries concurred on taking the bilateral cooperation to new heights. At the same time, agreements in various sectors, including the fuel sector, had been signed at that time.

Taking this into account, Russia is confident that China will help counter the western sanctions. Russian banks and other companies have already started transacting in the Chinese currency Yuan. A major portion of the Russian foreign reserves is invested in China. As 50% of the foreign reserves are blocked by Western sanctions, the Chinese portion becomes important. Being aware that Russia would counter the sanctions with Chinese help, the United States and Europe are now moving to pressurise China.

Over the last few days, the United States has issued warnings consistently to China. But it is claimed that China has not paid any heed to the US warnings. But the discussions in Rome and the statement of the Chinese Foreign Minister counter this. During the talks in Rome, the United States, while expressing severe concerns over the Russia-China cooperation, warned that China would have to face the consequences. China, in reply, warned the United States to stop targeting it on the Taiwan issue.

The Chinese economy has been receiving major jolts since the last year, and there are indications of a decline in the economic growth rate. This decline can pose a significant challenge to President Jinping. The decline in the economy could have a strong impact on the leadership and image of President Jinping in the minds of the Chinese people. If China has to face fresh sanctions given the assistance provided to Russia, new jolts could be delivered to the Chinese economy. China has to do a balancing act to avoid that. Taking this into account, the Chinese Foreign Minister has stated that China is not involved in the Russia-Ukraine conflict. Therefore, he has demanded that sanctions should not be imposed against China.