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US at G7 to keep pressing China to halt its Russia military support, seeking Ukraine war stoppage
- Janet Yellen expected to restate American call for firms and financial institutions in China and elsewhere to ‘cease’ backing Moscow’s defence complex
- US treasury chief also likely to mention developing countries’ growing external debt service in veiled reference to China
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Igor Patrickin Washington
US President Joe Biden’s administration will use this week’s Group of Seven meeting to keep applying pressure on China to halt its support for Russia’s military industry.
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US Treasury Secretary Janet Yellen, now in Italy attending a meeting of G7 finance ministers and central bank governors, will call for “more action” to impede Russian President Vladimir Putin’s intentions for Ukraine and stop the war there.
“The US will continue to press firms and financial institutions in China and other countries to cease their support for Russia’s military-industrial base, such as through supplying key inputs like optics and semiconductors,” Yellen is expected to say on Thursday, according to excerpts of her remarks.
The US treasury chief has sought to maintain the Biden administration’s collaboration with American financial institutions, highlighting the potential sanctions for entities that supply Russia’s military-industrial complex.
China’s engagement with Russia has emerged as a prominent agenda item within the G7 since Moscow invaded Ukraine in 2022.
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Even Japan, traditionally reticent when it comes to global conflicts, called for the body comprising major advanced economies to show a united front in its June 2022 meeting.
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