China suspends investment in Russia under One Belt One Road project - media
That’s according to the Financial Times, Ukrinform reports.
The report by the Green Finance & Development Center at Fudan University (Shanghai) says that for the first time since the launch of the program in 2013, China has not invested in Russia.
According to the center’s chief Christoph Nedopil Wang, the threat of Western sanctions could deter China from investing in the Russian Federation.
At the same time, he noted that Chinese purchases of Russian energy have increased, despite the war Russia is waging against Ukraine.
Last year, Moscow and Beijing concluded agreements worth about US$2 billion.
It is noted that by slowing down investments in Russia, China deepened its interaction with the Middle East. In particular, in the first half of 2022, the People's Republic of China concluded in Saudi Arabia deals worth $5.5 billion in the field of energy and construction.
"One Belt - One Road" is an initiative developed by the People's Republic of China, a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in almost 70 countries and international organizations.
As reported, on February 24, the Russian Federation began a new stage of its war against Ukraine – a full-scale invasion.
