Chinese hackers, backed by the government, targeted US Treasury office, the Office of Foreign Assets Control and the Office of Financial Research in a major cyberattack earlier this week, reported the Washington Post. The attack was first revealed by the Treasury earlier this week but it had refused to identify the targets. The office of US Treasury Secretary Janet Yellen was also reportedly targeted by Beijing-controlled hackers.

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Earlier this week, the Treasure Department revealed in a letter to lawmakers that the Chinese hackers had stolen unclassified documents in a "major incident", a claim strongly refuted by the Chinese government.

Response from China

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Reacting to the Washington Post’s report, Liu Pengyu, spokesperson for the Chinese Embassy in Washington, said the allegations were ‘irrational’ and without ‘any factual basis’.

Pengyu said the accusations represented "smear attacks" against the Chinese government. The statement added that Beijing combated “all forms of cyInternet sites of several French cities targeted by cyber attacksberattacks", without directly addressing claims made in the Washington Post report.

China worried over sanctions?

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According to officials quoted by the Post, Chinese government is anxious about potential sanctions and financial restrictions that may be imposed by the US government in coming months.

Notably, the US Treasury Office administers economic sanctions on foreign entities, including the Chinese ones.

Chinese firms often find themselves in the crosshairs of US sanctions, something that policymakers in Washington DC use as a major foreign policy tool. The incoming administration of President-elect Donald Trump has also vowed to increase tariffs on products from China.

Also read: Internet sites of several French cities targeted by cyber attacks

Even the outgoing administration of President Joe Biden has signalled more sanctions on Chinese banks for their alleged role in supporting sanctioned Russian banks in the wake of the Russia-Ukraine war. Yellen was quoted by news agency Reuters as saying that American sanctions on Chinese banks would be aimed at reducing Russia's oil revenue and hindering its access to foreign supplies that it may use to fuel its war in Ukraine.

(With inputs from agencies)