U.S. Treasury Secretary Janet Yellen wrapped up four days of talks in China with a warning against any moves to bolster Russia’s military capacity.
"I stressed that companies, including those in the PRC, must not provide material support for Russia’s war, and that they will face significant consequences if they do,” Yellen said Monday in prepared remarks for a press conference at the U.S. ambassador’s residence in Beijing, using an abbreviation for the People’s Republic of China.
"Any banks that facilitate significant transactions that channel military or dual-use goods to Russia’s defense industrial base expose themselves to the risk of U.S. sanctions,” she said.