New Market Perspective
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

New Market Perspective

World

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

by admin July 26, 2024
July 26, 2024
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

0
FacebookTwitterGoogle +Pinterest
previous post
Assisted dying bill introduced in Britain’s House of Lords, as emotional campaign picks up pace
next post
Young Venezuelan opposition voters prepare to leave the country if Maduro is reelected

Related Posts

Ukraine claims it destroyed Russian tank landing ship

December 28, 2023

The Kremlin’s 30-hour truce was designed to shift...

April 21, 2025

Norway seizes Russian-crewed ship on suspicion of causing...

February 1, 2025

China celebrates historic Olympic gold medal tie with...

August 12, 2024

Panama’s Mulino declared ‘unofficial’ winner of presidential election

May 6, 2024

Israeli airstrikes target Yemen’s Houthis day after deadly...

July 21, 2024

Julian Assange staves off extradition to US for...

March 26, 2024

Six killed in explosion at Czech restaurant

January 12, 2025

Gaza population at risk of famine as it...

June 26, 2024

Russian general wanted by Ukraine for chemical munitions...

December 17, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • China tells EU it can’t accept Russia losing its war against Ukraine, official says

      July 5, 2025
    • Trump expects Hamas response to ceasefire in hours as new details emerge on proposal

      July 5, 2025
    • Hamas submits ‘positive response’ to ceasefire proposal in major step toward a deal

      July 5, 2025
    • ‘We want an answer’: They fear their relatives are among the hundreds of bodies piled up at a crematorium in Mexico

      July 5, 2025
    • Synagogue door set alight and restaurant stormed in latest antisemitic attacks in Australia

      July 5, 2025
    • Denmark has long been Euroskeptic. Donald Trump helped change that

      July 5, 2025

    Popular

    • 1

      Top 5 Junior Copper Stocks on the TSXV in 2023

      December 22, 2023
    • 2

      Canada Silver Cobalt Begins Drilling at Lowney-Lac Edouard in Quebec, Targeting Nickel-Copper-Cobalt Mineralization

      December 22, 2023
    • 3

      Crypto Market 2023 Year-End Review

      December 22, 2023
    • 4

      10 Top Oil-producing Countries (Updated 2024)

      October 19, 2024
    • 5

      Top 10 Uranium-producing Countries (Updated 2024)

      April 18, 2024
    • 6

      Powered by rain, this seed carrier could help reforest the most remote areas

      December 19, 2023
    • 7

      A troubling theory about traders profiting from Hamas’ attack on Israel drew much attention. Why it may not be so simple.

      December 13, 2023

    Categories

    • Business (1,398)
    • Investing (3,451)
    • Politics (4,518)
    • World (4,424)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: newmarketperspective.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 © 2025 newmarketperspective.com | All Rights Reserved