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Significance
It has also denied engaging in discussions with Moscow about providing military assistance, a claim the US government has made to allied nations.
Impacts
Most Chinese firms lack commercial incentives to risk secondary sanctions by doing business with Russia.
Beijing will monitor events closely to learn lessons about mitigating a potential economic embargo of similar scope against itself.
China will accelerate efforts to raise technological self-reliance and develop means to respond to potential sanctions.
China will redouble efforts to diversify away from reliance on the dollar and economic chokepoints such as the SWIFT system.
Keywords:
China,
Russia,
AP,
EU,
Ukraine,
United States,
CHINA/RUSSIA,
international relations,
invasion,
sanctions,
war,
capital flows,
finance,
hard commodities,
foreign investment,
foreign policy,
foreign trade,
Banks
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2022
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