U.S. Secretary of State Antony Blinken will warn China that Washington will take punitive steps unless Beijing stops sending weapon-related technology to Russia. During his upcoming visit to China next week, Blinken will tell his counterparts that the United States and its allies have grown impatient with China's refusal to cease supplying Moscow with everything from chips to cruise missile engines to help rebuild its industrial base, according to the Financial Times.
Blinken does not plan to disclose the measures that Washington will take, but many individuals familiar with the situation have stated that it is considering imposing sanctions on Chinese financial institutions and other entities. One source indicated that his message will be the clearest warning delivered personally to Chinese officials.
The United States has intensified its warnings regarding the situation in recent weeks, including in meetings with European allies and G7 partners. One U.S. official noted that other G7 members informed Washington that they have raised the issue with China or will do so after the G7 foreign ministers' meeting in Capri this week, where Blinken discussed the matter.
One source mentioned that China has increasingly become concerned about the possibility of sanctions on its banks. President Joe Biden issued an executive order in December warning foreign financial institutions that they "risk losing access to the U.S. financial system if they facilitate significant transactions related to the Russian military industrial base."
Dennis Wilder, a former China analyst for the CIA at Georgetown University, stated, "China has been worried for some time that the U.S. might escalate sanctions against China, especially in the banking arena, due to its support for Russia during the war."
According to Russian media reports, four major Chinese lenders stopped accepting payments from Russia last month, particularly concerning significant electronic component transactions. Treasury Secretary Janet Yellen raised the issue during a visit to China this month, but Blinken intends to push the matter with stronger language.
