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China will not join the United States and EU countries in imposing financial sanctions on Russia.
Chairman of China Banking and Insurance Regulatory Commission Guo Shuqing said Beijing opposes sanctions and will continue normal trade or financial relations with Russia.
“We will not join such sanctions and will maintain normal economic, trade and financial exchanges with all relevant parties. We do not approve financial sanctions, especially those launched unilaterally, because they do not have much legal basis and will not have good effects.“Shuqing said at a press conference.
China is a major buyer of Russian oil and gas and the only major government that has refrained from criticizing Moscow’s attack on Ukraine.
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