Currency
Russia is in for an unpleasant surprise: the Kremlin's main ally has prepared significant restrictions
Despite its declared "friendly" attitude toward Russia, China plans to tighten controls on the export of technologies that could be used in the war against Ukraine. This decision was made against the backdrop of secondary sanctions that threaten Chinese manufacturers for cooperating with the aggressor country.
Referring to the Chinese Ministry of Commerce, CNBC reports that China is seeking the status of a neutral participant in the war. Therefore, starting December 1, the authorities will introduce a new export control system that will require all buyers of dual-use goods, including drones, to obtain a license from the government.
Ministry spokesman He Yandong said this at the BRICS summit in Kazan, Russia. This contrasts somewhat with Chinese President Xi Jinping's statement about the "deep" relations between the two countries, which will not change despite the turbulence in global geopolitics.
"Since the beginning of the Ukrainian crisis, China has imposed several control measures on drones and has made it clear that civilian drones should not be illegally used for military purposes," He Yandong said.
He warned that the Chinese authorities intend to tighten the practice of issuing licenses, as well as increase inspections to prevent "illegal exports." Under the new rules, exporters will have to disclose the final recipients of UAVs or components.
"China will resolutely defend its legitimate rights and interests against malicious acts of suppression and sanctions against Chinese companies because of their involvement with Russia," a Chinese official said.
It is reportedly unclear how widely Chinese export controls on dual-use products will be applied.
OBOZ.UA also reported that companies that purchase goods from China for Russian marketplaces have begun to face more and more frequent payment processing refusals. Due to the war, China's share of all cross-border payments by Russian celery farmers fell by 16.7% during the year. This could lead to a shortage of some goods exported from China to Russia.
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