China Dismisses US Claims of Support for Russia as 'Paranoia'




  • In World
  • 2023-01-30 08:37:40Z
  • By Bloomberg

(Bloomberg) -- China hit back at a report that the US has confronted it with evidence suggesting some of its state-owned firms may be helping Russia's war in Ukraine, saying Washington should stop sending weapons if it wants the conflict to end.

Most Read from Bloomberg

  • Adani Tries to Calm Investors With 413-Page Hindenburg Rebuttal

  • Adani Rout Hits $68 Billion as Fight With Hindenburg Intensifies

  • Russia Can't Replace the Energy Market Putin Broke

  • Historic Crash for Memory Chips Threatens to Wipe Out Earnings

China "would never add fuel to the fire, still less exploit the crisis," Foreign Ministry spokesperson Mao Ning said Monday at a regular press briefing in Beijing. "The US is the one who started the Ukraine crisis and the biggest factor fueling it."

"Rather than reflecting on its own acts, the US has been sowing paranoia and pointing fingers at China," she said. "We reject such groundless blackmail, and would not sit by and watch the US harm the legitimate rights and interests of Chinese companies."

The support from Chinese companies consists of non-lethal military and economic assistance that stops short of a wholesale evasion of the sanctions regime the US and its allies imposed after Russian forces launched a full-scale invasion of Ukraine about a year ago, Bloomberg News reported Jan. 25, citing people familiar with the matter.

US Confronts China Over Companies' Ties to Russia War Effort

The trend was worrying enough that US officials raised the matter with their Chinese counterparts and warned about the implications of supplying material support for the war, the people said, though they declined to provide details of those contacts.

President Xi Jinping has avoided criticizing Russia over the war and has offered to play a role in peace talks. Xi has also come out against the use of nuclear weapons in the conflict.

Most Read from Bloomberg Businessweek

  • After 30 Years, the King of ETFs Faces a Fight for Its Crown

  • How to Be 18 Years Old Again for Only $2 Million a Year

  • The US Hasn't Noticed That China-Made Cars Are Taking Over the World

  • Even $370 Billion in US Incentives Won't Solve All of Solar's Struggles

  • Giving Four Months' Notice or Paying to Quit Has These Workers Feeling Trapped

©2023 Bloomberg L.P.

COMMENTS

More Related News

Biden says he doesn
Biden says he doesn't take Xi-Putin relationship 'lightly' after meeting
  • World
  • 2023-03-24 21:39:35Z

President Biden on Friday said that the doesn't take the growing relationship between Chinese leader Xi Jinping and Russian President Vladimir Putin "lightly...

US Bank Deposits Decline by Most in Nearly a Year
US Bank Deposits Decline by Most in Nearly a Year

(Bloomberg) -- Deposits at US lenders posted the biggest decline in nearly a year during the week when multiple bank failures triggered the latest bout of...

First Republic Whiplashes Investors as Bank Concerns Linger
First Republic Whiplashes Investors as Bank Concerns Linger

(Bloomberg) -- First Republic Bank shares ended lower Friday on the heels of another downgrade and as financial turmoil spread to a European lender...

Lula to seek Chinese semiconductor technology, investment in Beijing
Lula to seek Chinese semiconductor technology, investment in Beijing
  • US
  • 2023-03-24 18:39:56Z

Brazil will seek Chinese technology and investment to develop a semiconductor industry in the South American country despite U.S. attempts to discourage...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: World