According to the former Deputy Sanctions Coordinator of the US State Department, China will consider its interests in deciding whether to help Russia deal with the effects of Western sanctions as a result of the Ukrainian War.
“The U.S. government will consider China very important here,” Richard Nefeu said Monday in response to a question about how important China’s role is in ensuring the effectiveness of U.S. sanctions. “. The degree of support for Russia as Moscow suffers from fallout from those sanctions. “
After Russia invaded Ukraine, the United States and the European Union took sanctions on the assets of Russian banks, central banks and their oligarchs. The United States further banned Russian oil last week.
According to the Financial Times, investors are watching closely what China will do if these sanctions hit the Russian economy. Moscow expects Beijing to help deal with the economic blow. Country.
“Chinese are still very interested in being able to do business in Europe and do business in the United States, always considering national interests,” Nefu told CNBC’s “Street Signs Asia.”
“To the extent that China is seen as undermining the sanctions campaigns pursued by the United States and Europe can have a negative impact on it. I think China takes it quite seriously. “
Since Russia attacked Ukraine, Beijing has refused to call it an aggression, saying China will maintain normal trade with the two countries. China has not participated in sanctions against Russia in the United States, EU and other countries. Worried “deeply” about Ukraine’s crisis, he warned that sanctions would undermine global growth.
But if Washington “strongly armed” Beijing by not supporting Russia, “it’s unlikely to do a tremendous job,” said his nephew, now a senior researcher at Columbia University. ..
“But at the same time, I think they’ll set it aside, frustration, frustration, and set it aside to ensure that their own interests are taken into account,” he told China. Mentioned and said.
That may mean not quietly cooperating with Russia, “but certainly does not violate US and European sanctions against Russia,” he added.
US National Security Adviser Jake Sullivan will meet with China’s top foreign policymaker, Yang Kiyi, to discuss the invasion of Ukraine on Monday.
The White House previously stated that China’s trade with Russia was not sufficient to offset the impact of US and European sanctions on Moscow. He said the share of the world economy in China and Russia is much lower than that of the group in seven countries. United States and Germany.
China is Russia and Ukraine’s largest trading partners, and according to Chinese customs authorities, trade between China and Russia reached a record high of $ 146.9 billion in 2021, an increase of 35.8% over the previous year. China’s imports from Russia far exceeded exports. Over $ 10 billion last year.
Alexander Gabuev, senior fellow and Russian chairman of the Carnegie Moscow Center think tank, said he expected China to be “religious about complying with US and EU sanctions.” Added.
One possibility is that if the war situation stabilizes, China could seize the opportunity to buy Russia’s oil and gas cheaply, Gabuev told CNBC’s “capital connection” on Monday.
“We will not formally violate US and EU sanctions, but it will be an important and important lifeline for the regime,” he said.
— CNBC’s Evelyn Cheng contributed to this report.