Russia was hit by a series of sanctions from Europe and the US over its attack on Ukraine, and its economy and finances have been hit hard, with long-term effects. In addition, the US has issued warnings to Beijing, which, according to analysts, has no ability or the courage to help Russia out of trouble.
A CNN article highlighted that although Russia relies on China to a certain extent, Russia is not China's primary trading partner.
According to the WTO and China Customs data, CNN estimates that China is Russia's largest trading source. However, Russia is much less important to China, as it accounts for only 2% of China's trade volume, far less than China's trade with the European Union (EU) and the US.
In addition, Chinese companies are also worried that if they keep doing business with the Russians, they will be indirectly affected by sanctions.
Craig Singleton is a scholar at the Foundation for Defense of Democracies, a DC-based think tank. He said that these Chinese entities "could very quickly find themselves subject to increased Western scrutiny if they are perceived in any meaningful way as aiding Russian attempts to evade US-led sanctions."