US Sanctions More Chinese Companies Over Trade With Russia

The sanctions aren't expected to impact the growing trade relationship between Russia and China

The US Treasury Department announced more Russia-related sanctions on Wednesday that target companies based in China and other countries that are accused of supporting Russia’s “war economy.”

New sanctions were imposed on more than 300 individuals and entities based in Russia, China, Turkey, and the UAE.

“We are increasing the risk for financial institutions dealing with Russia’s war economy and eliminating paths for evasion, and diminishing Russia’s ability to benefit from access to foreign technology, equipment, software, and IT services,” Treasury Secretary Janet Yellen said in a statement.

The US has been trying to pressure China to reduce its trade relationship with Russia and announced its first significant round of Russia-related sanctions on Chinese companies last month. However, trade between the neighboring countries has increased in recent years in response to US sanctions, and new ones aren’t expected to discourage the growing relationship.

Russia has vowed that it will respond to the new US sanctions. “As always in cases like this, Russia will not leave such aggressive actions without a response,” said Russian Foreign Ministry spokeswoman Maria Zakharova.

Following the announcement of the sanctions, Russia’s main stock exchange said it was halting trade in the US dollar and euro.

The US and NATO accuse China of fueling the war in Ukraine even though Beijing doesn’t send military aid to Russia, and it’s the Western powers that have been pouring weapons into Ukraine and discouraging peace talks.

“China says it wants good relations with the West. At the same time, Beijing continues to fuel the largest armed conflict in Europe since World War Two. They cannot have it both ways,” NATO Secretary-General Jens Stoltenberg said in April.

Author: Dave DeCamp

Dave DeCamp is the news editor of, follow him on Twitter @decampdave.