Imposing financial sanctions on Russia lacks legal basis, China says

International

Beijing, (ST) –  China on Wednesday reiterated its refusal to impose financial sanctions on Russia. It described any decision in this regard as lacking legal basis.

The media quoted the Head of the China Banking and Insurance Regulatory Commission Gu Chuqing as saying at a press conference that, Beijing will not join the US and European governments in imposing financial sanctions on Russia. He said that such sanctions will not have a good effect.

 Chuqing stressed that China will continue to carry out economic, trade and financial exchanges as usual with all parties concerned.

China is a big buyer of Russian oil and gas.

Raghda Sawas

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