During the G7 summit on June 14, leaders accused China of supporting Russia and enabling its campaign in Ukraine. They claimed that China was providing assistance to Russia’s defense industry and contributing to its continued campaign in Ukraine, resulting in serious security consequences. The G7 called on China to cease transferring dual-use equipment to the Russian defense sector, which could be utilized for both military and civilian purposes.
In response to the accusations, G7 leaders warned that they would implement new measures, such as embargoes, to penalize Chinese entities suspected of aiding Russia in evading Western sanctions. U.S. officials alleged that China was facilitating Russia’s expansion of defense production by exporting semiconductors, raw materials, and machine tools, enabling Moscow to increase its output of tanks, armor, and ammunition.
Despite the allegations, China denied them, asserting that it did not supply weapons to Russia or Ukraine and maintained strict oversight over the export of dual-use goods. The G7 also took a firmer stance on China’s economic policies, particularly concerning industrial overproduction. Leaders pledged to address “unsavory behavior” and work towards establishing a level playing field while rectifying any harm caused by China’s actions.
Moreover, the G7 expressed opposition to China’s efforts to unilaterally alter the status quo in the East and East China Seas. At the summit, leaders reaffirmed their strong support for Ukraine in its conflict with Russia and agreed on a plan to utilize gains from frozen Russian assets to provide up to $50 billion in aid to Ukraine. This agreement was intended to send a clear message to Russian President Vladimir Putin that the bloc would stand by Ukraine for as long as necessary.
Trading Technologies International has partnered with Hidden Road, a global credit network for institutions, through…
Recent data from the State Health Department has identified Tulsa County as one of the…
Euro 2024 proved to be a tough evening for some of our Rossoneri players representing…
Trading Technologies International has partnered with Hidden Road, a global credit network for institutions, through…
Julian Alvarez played a key role in helping Argentina secure a spot in the Copa…
Norah Jeruto, the 2022 world champion steeplechase runner, is set to compete at the Paris…