State Department warns Russia, China alliance to backfill severe economic sanctions will fail: 'Putin knows'

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Putin breaks silence over Ukraine with harsh criticism of the West

Fox News correspondent Steve Harrigan has the latest from Kyiv, Ukraine, on 'Special Report.'

The State Department on Thursday warned that, if Russia invades Ukraine, any attempts to offset harsh sanctions against the Kremlin by bolstering the Russia-China alliance will be insufficient. 

The U.S. and NATO have vowed swift and severe economic sanctions if Russian President Vladimir Putin violates the former Soviet nation’s sovereignty. 

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Russian President Vladimir Putin shakes hands with his Chinese counterpart Xi Jinping at the Kremlin in Moscow, Russia, June 5, 2019. (Reuters)

Reports surfaced Thursday alleging that Russia may be looking to expand its trade deals with China, particularly in the energy sector, as it evaluates the potential inability to use its coveted Nord Stream 2 Pipeline to funnel natural gas into Europe. 

"If Russia thinks that it will be in a position to make up some of those consequences … by a closer relationship with the PRC [People’s Republic of China], that is not the case," State Department press secretary Ned Price said.

"It will actually make the Russian economy in many ways more brittle," he continued. "If you deny yourself the ability to transact with the West … you are going to significantly degrade your productive capacity and your innovative potential. 

"Putin knows that this would be a massive consequence to his country and to his economy," he added.

Price said the attempt to use China as an economic lifeline would make it more dependent on a singular economic powerhouse.

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Russian President Vladimir Putin speaks with Chinese President Xi Jinping via videoconference in Moscow, Russia. (Mikhail Metzel, Sputnik, Kremlin Pool Photo via AP)

"This is a recipe for catastrophe for the Russia economy. No partnership can account for the massive economic toll that we’ve talked about," he said.

Putin will head to China Friday for the Winter Olympics in Beijing, where he and Chinese President Xi Jinping are expected to talk about more than just the Games. 

A Kremlin aide, Yuri Ushakov, said Putin and Xi could be looking at signing as many as 15 agreements, reported Reuters Thursday.

China appeared to land on the side of Russia during a heated meeting at the U.N. Security Council this week when it voted in line with Moscow and attempted to block action regarding Ukraine. 

China also condemned the U.S.-NATO alliance as a "Cold War mentality" and heeded "legitimate" Russian security concerns.

Russian tanks T-72B3 take part in drills at the Kadamovskiy firing range in the Rostov region in southern Russia, Jan. 12, 2022. (AP Photo, File )

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The U.S. and its NATO allies have the ability to target economies through various financial tools like sanctions and export-import control actions. 

"We have an array of tools that we can deploy if we see China doing their best to backfill U.S. exports," Price said. "A closer relationship between Russia and the PRC is not going to make up for that."