US Treasury Secretary Janet Yellen said Wednesday she hopes China, which has a close relationship with Russia, would step in to end Moscow's war on Ukraine.
"The war in Ukraine and sanctions against Russia highlight the pivotal role of China," she said during her speech at the Atlantic Council.
"China has long claimed to hold sacrosanct key international principles -- including those enshrined in the UN Charter with respect to sovereignty and territorial integrity."
Russia's war on Ukraine, which began on Feb. 24, has drawn international condemnation, led to severe financial sanctions on Moscow, and spurred an exodus of global firms from Russia.
Yellen said China cannot expect the global community to respect its appeals to the principles of sovereignty and territorial integrity in the future if it does not respect those principles.
"Going forward, it will be increasingly difficult to separate economic issues from broader considerations of national interest, including national security. The world’s attitude towards China and its willingness to embrace further economic integration may well be affected by China’s reaction to our call for resolute action on Russia," she noted.
Yellen listed some solutions to how to resolve issues about the war.
She called for modernizing the multilateral approach used to build trade integration, implementing the global tax deal that was proposed last year, including 137 countries that represent nearly 95% of the world’s GDP, and providing the tools for the IMF to fight financial global crises.
She also proposed rethinking strategies and institutions to better mobilize capital to support developing countries, expedite a cleaner energy future, and improve global health architecture to boost pandemic response.
