Yellen Calls on China to Push Russia to End Ukraine War.

Treasury Secretary Janet L. Yellen on Wednesday urged China to persuade Russia to end its war in Ukraine, warning that staying out could jeopardize China’s position in the world economy.

The comments came amid growing frustration from the United States and its allies that China has refused to condemn Russia’s actions in Ukraine. Instead, the two countries have solidified a “special relationship.” The United States has been watching with concern whether China will help Russia evade sanctions and stabilize its economy.

“In the future, it will be increasingly difficult to separate economic issues from broader considerations of national interest, including national security,” Yellen said in a speech to the Atlantic Council, a think tank. “The world’s attitude toward China and its willingness to embrace further economic integration may well be affected by China’s reaction to our call for decisive action on Russia.”

Ms. Yellen added that Russia’s actions were in contradiction to China’s longstanding public commitments to sovereignty and territorial integrity and called on China to use its influence with Russia to end the war.

Eswar Prasad, a former China director at the International Monetary Fund, said the United States was trying to embarrass China with Yellen’s comments.

“The United States is calling the attention of the Chinese government by trying to have it both ways, claiming to be a protector of the global governance system while standing by while that system is being challenged by Russia’s open aggression in Ukraine,” he said. Mr. Prasad. , professor of international trade policy at Cornell University.

The Treasury secretary also said fallout from Russia’s invasion of Ukraine was casting a shadow over the global economy after two years of disruption from the pandemic, but insisted the United States and its allies continue to work together to confront Russia with debilitating sanctions.

“The war between Russia and Ukraine has reshaped the contours of the global economic outlook,” said Ms. Yellen.

He was speaking ahead of the World Bank and International Monetary Fund spring meetings next week, when finance ministers from around the world will gather in Washington. After two years of lockdowns and supply chain disruptions, those officials are now focused on coordinating sanctions in an effort to cripple the Russian economy while helping their own countries cope with soaring inflation.

In the speech, Ms. Yellen highlighted countries such as China and India that have continued to engage with Russia despite the global backlash against the atrocities it has committed in Ukraine.

“Let me now say a few words to those countries that are currently sitting on the fence, perhaps seeing an opportunity to win by preserving their relationship with Russia and filling the void left by others,” said Ms. Yellen. “Such motivations are shortsighted.”

“And let’s be clear: the unified coalition of sanctioning countries will not be indifferent to actions that undermine the sanctions we have put in place,” he continued.

The United States and its allies in Europe and Asia have imposed sanctions on Russia’s central bank, its major financial institutions and its military supply chain. There is mounting pressure to impose sanctions on Russia’s energy industry, with some arguing that the United States should consider “secondary sanctions” on countries that do not comply with the restrictions the Biden administration has enacted on transactions.

Referring to Russian President Vladimir V. Putin, Ms. Yellen asserted that the United States had no intention of relenting in its effort to strangle the Russian economy, saying: “Rest assured that until Putin ends his vicious war of election, Biden The administration will work with our partners to push Russia further into economic, financial, and strategic isolation.”

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