China-Russia relations: Xi Jinping and Vladimir Putin meeting raises risk of more US sanctions, analysts say
- Chinese firms could become collateral damage if the US chooses to double down on sanctions following a meeting between Beijing and Moscow
- Some analysts, however, believe Beijing is making a calculated play that serves its economic needs while searching for resolution to the Ukraine war
China’s pledge to deepen hi-tech cooperation with Russia might have ushered in a new round of geopolitical struggle among major powers, while exposing more Chinese companies to US curbs, analysts said.
Many overseas analysts believe Chinese firms could become collateral damage as relations worsen between the West and Beijing. Xi’s closeness with Putin suggests strategic competition is intensifying, while US officials have repeatedly warned of severe consequences for China’s support for Russia, which is facing heavy sanctions for its invasion of Ukraine.
“Washington is almost certain to sanction more Chinese companies, especially those involved in any sanctions-busting with Russia,” said Neil Thomas, a fellow at the Centre for China Analysis under the Asia Society Policy Institute.
“Chinese technology companies are already in Washington’s cross hairs, and those that visibly deepen their involvement with Russia are likely to put themselves at higher risk of attracting US sanctions.”
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Some, however, believe Beijing is keeping its distance and making a calculated play, ensuring it has access to energy, grains and technology while potentially bringing Russia and Ukraine back to the negotiation table.