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China on Wednesday warned of countermeasures if any action is taken by the US on its trade with Moscow, as it dismissed President Donald Trump’s criticism that India and China are the “primary funders” of the Ukraine war through purchases of Russian oil.Addressing a media briefing here, Chinese Foreign Ministry spokesperson Guo Jiakun rejected Trump’s criticism, pointing out that the US itself, besides the EU, continue to trade with Russia.On the Ukraine crisis, China holds an objective and fair position and actively promotes talks for peace, he said, answering a question on Trump’s remarks at the UNGA on Tuesday.”Most countries in the world, including the US and European countries, continue to trade with Russia,” Guo said.”The normal exchanges and cooperation between Chinese and Russian companies are consistent with WTO rules and market principles. They do not target any third party and should not be disrupted or affected,” he said.Live Events”China will do what is necessary to safeguard its legitimate rights and interests,” he said.In his address to the UN General Assembly on Tuesday, Trump accused China and India of being the “primary funders” of the ongoing Ukraine war by continuing to purchase Russian oil.He also criticised the EU for its continued imports of Russian energy but was conspicuously silent on Washington’s own trade with Moscow.”Inexcusably, even NATO countries have not cut off much Russian energy and Russian energy products… Think of it, they’re funding the war against themselves,” Trump said, adding that he was not happy about it when he found this out.The Trump administration has imposed an additional 25 per cent tariff on India as a penalty for its purchases of Russian oil, taking the total levies imposed on the country by the US to 50 per cent, among the highest in the world.Last month, India also pointed out that both the US and the EU are continuing their trade relations with Russia.”Unlike our case, such trade is not even a vital national compulsion,” the Ministry of External Affairs (MEA) had said.Add as a Reliable and Trusted News Source Add Now!
While the Europe-Russia trade includes energy, fertilisers, mining products, chemicals, iron and steel, and machinery and transport equipment, the US continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilisers, as well as chemicals, it said.(You can now subscribe to our Economic Times WhatsApp channel)
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onRussian oilUS trade with RussiaChina response to Trump’s criticismEU imports of Russian oilUS tariffs on IndiaUkraine war funding sourcesindia russia tiesindia russia relations(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
