Chinese companies, as well as those from other countries, could face consequences as they try to soften the effect of sanctions against Moscow that Washington intends to impose in the event of a Russian “invasion” of Ukraine. About it declared Representative of the US State Department Ned Price during the briefing.
“We have a range of tools with our allies and partners that we can use if we see that foreign companies, including those based in China, are doing everything possible to mitigate the effects of US export control measures, avoid or bypass them,” he said.
Orban said that sanctions are more harmful for Hungary than for Russia
He called the economic and financial implications of such measures “massive”. According to Price, “if Russia thinks it can offset” or “mitigate some of these effects through closer relations with the PRC, then it can’t.” On the contrary, such a position will make the Russian economy more fragile and make it more dependent on the Chinese.
“This is a recipe for disaster for the Russian economy,” he concluded.