According to Financial Times, in the first half of this year, China did not launch any new Belt and Road Initiative (BRI) investment projects in Russia.

The news outlet cited the data from a study by the Green Finance & Development Center, an affiliate of Fudan University in China. 

Financing and investments from China’s Belt and Road Initiative for Russia, Sri Lanka, and Egypt were at 28.4 billion dollars in the first half of the year, while the same period last year, the number was 29.4 billion dollars. 

This is a sign that the Chinese regime fears secondary sanctions following the sanctions imposed by the West on Russia because of Moscow’s invasion of Ukraine.

For many years, Russia has been on the list of countries receiving the most financial resources from BRI projects in particular and from China in general.

From 2000 to 2017, China pledged to lend Russia 125.4 billion dollars. Just days before the Russian invasion of Ukraine, Beijing and Moscow reached an energy exchange agreement.

Christoph Nedopil Wang , Director of Green Finance & Development Center, said that Western sanctions against Russia have caused Beijing to halt new investment projects in Russia. However, this drop is only temporary.

Wang added China is ramping up buying energy from Russia.

Specifically, China’s regime increased crude oil imports from Russia, making Russia the largest supplier of crude oil to China in May and June.

After Russia invaded Ukraine, China repeatedly stated that it was in a neutral position, but Beijing still criticized international sanctions against Russia.

The Wall Street Journal recently reported that China’s regime had provided Russia with products such as microchips and aluminum. These are materials that can help Russia develop weapons used in the invasion of Ukraine.

Sign up to receive our latest news!

By submitting this form, I agree to the terms.