China doubles down on relations with Russia in face of sanctions threats

ISTANBUL

China on Tuesday doubled down on its trade relations with Russia, pushing back any effort to sanction Beijing.

“China doesn't accept any illegal unilateral sanctions,” said Foreign Ministry spokesman Lin Jian.

Lin stressed normal economic and trade cooperation between China and Russia “will not be disrupted by any third party.”

Beijing’s statement came amid apprehensions that Group of Seven (G-7) member nations plan to “warn" small Chinese financial institutions over transactions related to Russia, daily Global Times reported.

The G-7 will hold a summit in Italy this week.

However, the ministry spokesman said China will take “all necessary measures to defend the legitimate rights and interests of Chinese enterprises.”

The annual trade between the bordering nations of China and Russia surpassed $240 billion last year. Beijing and Moscow have moved away from the use of dollar in inter-trade relations.

Beijing last month announced countermeasures against US companies after Washington blacklisted Chinese firms for alleged exports to Russia.

The US had blacklisted at least 20 Chinese enterprises over alleged exports to Russia which is facing the most number of sanctions due to war with Ukraine.

However, Beijing rejected the “so-called grounds” of Russian-related factors, to blacklist the Chinese enterprises.