China Will Not Join Sanctions on Russia, Banking Regulator Says

Guo Shuqing, Chairman of the China Banking and Insurance Regulatory Commission (CBIRC), attends a news conference in Beijing, China, March 2, 2021. (Reuters)
Guo Shuqing, Chairman of the China Banking and Insurance Regulatory Commission (CBIRC), attends a news conference in Beijing, China, March 2, 2021. (Reuters)
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China Will Not Join Sanctions on Russia, Banking Regulator Says

Guo Shuqing, Chairman of the China Banking and Insurance Regulatory Commission (CBIRC), attends a news conference in Beijing, China, March 2, 2021. (Reuters)
Guo Shuqing, Chairman of the China Banking and Insurance Regulatory Commission (CBIRC), attends a news conference in Beijing, China, March 2, 2021. (Reuters)

China will not join in sanctions on Russia that have been led by the West, the country's banking regulator said on Wednesday, adding that he believed the impact of the measures on China would be limited.

China, which has refused to condemn Russia's invasion of Ukraine, has repeatedly criticized what it calls illegal and unilateral sanctions.

"As far as financial sanctions are concerned, we do not approve of these, especially the unilaterally launched sanctions because they do not work well and have no legal grounds," Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, told a news conference.

"We will not participate in such sanctions. We will continue to maintain normal economic and trade exchanges with relevant parties," he said.

China and Russia have grown increasingly close in recent years, including as trading partners. Total trade between the two jumped 35.9% last year to a record $146.9 billion, according to Chinese customs data, with Russia serving as a major source of oil, gas, coal and agriculture commodities, running a trade surplus with China.

"The impact from the sanctions on China's economy and financial sector is so far not too significant," Guo added.

"Overall they will not have much impact (on China) even in the future," Guo said, citing the resilience of China's economy and financial sector.



Trump Says Iran Must Give Up Dream of Nuclear Weapon or Face Harsh Response

US President Donald Trump speaks during a meeting with El Salvador's President Nayib Bukele in the Oval Office of the White House in Washington, DC, April 14, 2025. (AFP)
US President Donald Trump speaks during a meeting with El Salvador's President Nayib Bukele in the Oval Office of the White House in Washington, DC, April 14, 2025. (AFP)
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Trump Says Iran Must Give Up Dream of Nuclear Weapon or Face Harsh Response

US President Donald Trump speaks during a meeting with El Salvador's President Nayib Bukele in the Oval Office of the White House in Washington, DC, April 14, 2025. (AFP)
US President Donald Trump speaks during a meeting with El Salvador's President Nayib Bukele in the Oval Office of the White House in Washington, DC, April 14, 2025. (AFP)

President Donald Trump said on Monday he believes Iran is intentionally delaying a nuclear deal with the United States and that it must abandon any drive for a nuclear weapon or face a possible military strike on Tehran's atomic facilities.

"I think they're tapping us along," Trump told reporters after US special envoy Steve Witkoff met in Oman on Saturday with a senior Iranian official.

Both Iran and the United States said on Saturday that they held "positive" and "constructive" talks in Oman. A second round is scheduled for Saturday, and a source briefed on the planning said the meeting was likely to be held in Rome.

The source, speaking to Reuters on the condition of anonymity, said the discussions are aimed at exploring what is possible, including a broad framework of what a potential deal would look like.

"Iran has to get rid of the concept of a nuclear weapon. They cannot have a nuclear weapon," Trump said.

Asked if US options for a response include a military strike on Tehran's nuclear facilities, Trump said: "Of course it does."

Trump said the Iranians need to move fast to avoid a harsh response because "they're fairly close" to developing a nuclear weapon.

The US and Iran held indirect talks during former President Joe Biden's term, but they made little, if any progress. The last known direct negotiations between the two governments were under then-President Barack Obama, who spearheaded the 2015 international nuclear deal that Trump later abandoned.