The U.S. Department of Treasury deputy minister stated on Monday (June 3) that the United States and European companies will take action to prevent Western companies from providing Russia with the necessary materials through China for manufacturing weapons in this war. At the same time, sanctions will be expanded against Chinese companies and entities supporting the Russian military industry.
Deputy Minister of the U.S. Department of Treasury, Wally Adeyemo, mentioned in an interview with the Voice of America on Monday that Russia is purchasing American and European products through third countries to expand its war machinery. Russian President Putin is swiftly turning Russia into a war economy.
Adeyemo visited Ukraine and Germany last week to discuss intensifying sanctions on Russia and preventing Russia from obtaining weapon components from the West.
Ukrainian President Zelenskyy stated during the Shangri-La Dialogue in Singapore on Sunday (June 2) that among the Russian missiles and drones captured on the Ukrainian battlefield, Western-manufactured components were continuously found. Many of these parts were imported by Russia through China.
Adeyemo informed the Voice of America on Monday, “It is necessary to prevent Russia from obtaining the materials they need to manufacture weapons to address this war. This means we must use sanctions and export controls to target companies and individuals providing materials for Russian military enterprises to produce missiles, tanks, and other weapons.”
Adeyemo emphasized the importance of ensuring that all allies of the U.S., Europe, and Ukraine send a unified message to China: “Facilitating Russia’s war machinery is unacceptable, and Chinese companies and individuals selling these goods to Russia ultimately have a choice: they can do business with our alliance, which makes up 50% of the global economy, or continue trading with Russia’s military complex, but they cannot have both.”
He stated, “If we cannot persuade China to stop this behavior, our allies, including Europe, need to commit to taking action.”
Adeyemo pointed out that European allies and partners are committed to ensuring that Russia is unable to acquire these military goods at all costs. He said, “In the coming weeks and months, we expect to take collective action to ensure we simultaneously provide Ukraine with the weapons and funds it needs to continue its defense.”
The Group of Seven (G7) summit is scheduled to take place in Italy from the 13th to the 15th of this month. How to use the profits from frozen Russian assets to assist Ukraine will be a critical topic at the summit.
Adeyemo expressed hope that the G7 leaders would approve the proposals discussed by U.S. Treasury Secretary Janet Yellen at the G7 finance ministers’ summit a few weeks ago. These proposals will ensure that Ukraine receives the necessary funds for investment in its economy and defense to enhance its defensive capabilities.
He said, “The most important thing we can do is provide resources for Ukraine… But at the same time, we must send a clear message to the Kremlin not to count on us stopping the aid. In the end, we will stand with Ukraine until Russia ends its aggression against Ukraine.”
Adeyemo also mentioned that there are considerations to expand sanctions and export controls against Russia while ensuring that Western companies do not inadvertently provide goods ultimately used for Russian military equipment.