Connect with us

Hi, what are you looking for?

Latest News

Don’t help Russia to evade sanctions, Ukraine tells Hong Kong

Ukraine’s Foreign Minister Dmytro Kuleba urged Hong Kong to prevent Russia from using the Asian financial hub to bypass Western sanctions during a visit to the city on Thursday.

The United States and European Union have sanctioned dozens of companies in Hong Kong and mainland China for evading the extensive measures imposed on Russia in response to its invasion of Ukraine, including the supply of critical dual‑use goods such as semiconductors.

Kuleba “called on the Hong Kong administration to take measures to prevent Russia and Russian companies from using Hong Kong to circumvent the restrictive measures imposed for Russia’s aggression against Ukraine,” according to a statement from Ukraine’s Foreign Affairs Ministry issued after the minister met with Hong Kong leader John Lee.

“These restrictive measures are necessary to weaken Russia’s capacity to wage war and kill people in Ukraine,” it added. “The Minister stressed that Russia’s machinations should not spoil Hong Kong’s reputation as a highly developed liberal economy based on unwavering respect for the rule of law.”

Dual-use items are goods, software or technology that can be used for both civilian and military applications. The US has said that some of the dual-use items targeted by its sanctions are critical to Russia’s defense-industrial base.

While the UN General Assembly has passed resolutions condemning Russia’s invasion and demanding the withdrawal of its troops from Ukraine, similar resolutions at the UNSC have been vetoed by Russia, a permanent member of the group.

Hong Kong officials have previously said the city has no obligation to implement unilateral sanctions imposed by other countries – including when a mega yacht linked to a Russian oligarch sanctioned by the US, the EU and the United Kingdom dropped anchor in the city in October 2022.

However, international companies based in Hong Kong, including Chinese banks, have generally adhered to US sanctions to avoid any risk of being frozen out of the dollar dominated global financial system.

Kuleba’s visit to Hong Kong was the final leg of his trip to China, the first time the close partner of Russia has hosted a top Ukrainian official since Moscow’s invasion began nearly two and half years ago.

Beijing, which has forged deeper ties with Russia since the invasion and become a vital economic and diplomatic lifeline for Moscow, has repeatedly decried “unilateral sanctions” and what it calls “long-arm jurisdiction” by Western countries, saying they have no basis in international law.

In a meeting in the southern city of Guangzhou on Wednesday, Chinese Foreign Minister Wang Yi told his Ukrainian counterpart that, “although the conditions and timing are not yet ready,” China was “willing to continue to play a constructive role in ceasefire and resumption of peace talks.”

Kuleba told Wang that Ukraine was prepared for peace talks “when Russia is ready to negotiate in good faith,” according to the Ukrainian Foreign Ministry, but stressed that Kyiv saw no such willingness from Moscow.

The Ukrainian diplomat’s visit comes as Beijing faces increasing pressure from the West over its deepening ties to Russia and allegations that it’s aiding Moscow’s war effort by providing dual-use goods. Beijing denies this and says the West is fueling the conflict by supplying arms for Ukraine’s defense.

This post appeared first on cnn.com

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    Kim Jong Un attended a “paramilitary parade” with his daughter to mark the 75th anniversary of North Korea’s founding on Saturday, the country’s state...

    Stock

    Target said Tuesday that it will close nine stores in major cities across the country, citing violence, theft and organized retail crime. The company will...

    Investing

    Cybercrimes are a growing problem for individuals, businesses and governments alike. Still, many people continue to ask the question, “Why is cybersecurity important?” For...

    Stock

    The Consumer Price Index hit 3.2% in July, compared with 3% in June, the Bureau of Labor Statistics reported Thursday. Once again, food prices...

    Disclaimer: aimyourdeals.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2023 aimyourdeals.com