Sanctions on China not appropriate, says Yellen

Washington: US Treasury Secretary Janet Yellen said on Friday that sanctions against China are "not necessary or appropriate" since its support for Russia following the invasion of Ukraine was still unclear.

"I don’t think that that’s necessary or appropriate at this point," Yellen said in an interview with CNBC, adding that "senior administration officials are talking privately quietly with China to make sure that they understand our position."

She noted Washington "would be very concerned if they were to supply weapons to Russia. Or to try to evade the sanctions that we’ve put in place on the Russian financial system and the central bank. We don’t see that happening at this point." Yellen also warned that gasoline prices could rise further in the United States, where inflation is already at a rate not seen since the 1980s, sapping President Joe Biden’s popularity.