China warns US of consequences over new Russia sanctions
Photo: Chinese flag (Getty Images)
New US restrictions on Russia, if adopted, will ultimately backfire on Washington itself, while the pressure campaign will prove ineffective, according to Liu Chang, a spokesperson for the Chinese Embassy in Washington, RIA Novosti reports.
Beijing believes that attempts to pressure other countries will ultimately backfire on the United States.
Liu Chang said that the use of double standards, as well as coercive and pressure tactics, would ultimately backfire on those who employ them.
What is known about sanctions
The US Senate has approved "bone crushing" sanctions bill targeting Russia, paving the way for consideration by the House of Representatives as early as next month. The legislation was authored by late US Senator Lindsey Graham.
The bill provides for sanctions against Russia’s largest banks, a ban on new US investments in Russia, and restrictions on purchases of Russian sovereign debt. The measures could also target the so-called shadow fleet used to transport Russian oil in circumvention of existing sanctions.
In addition, the legislation would allow tariffs of up to 500% on Russian goods and up to 100% on products from countries that buy Russian oil and gas or help Moscow evade sanctions.
The bill also extends the Iran Sanctions Act through 2031.
Meanwhile, following an escalation in Russian attacks against Ukraine, the European Union expanded its sanctions list by adding five more individuals.
They were sanctioned for their involvement in actions by the aggressor state directed against Ukrainian civilians and critical infrastructure.
