Russia Ukraine War: Dragon stunned by increasing sanctions on Russia, now China is also retreating with the help of Moscow


Posted on 7th Mar 2022 03:27 pm by rohit kumar

Chinese President Xi Jinping has not acted to help Moscow, despite strong ties with Russian President Vladimir Putin and criticism from the West over sanctions against Russia. The Chinese-led development bank Asian Infrastructure Investment Bank (AIIB) suspended all business with Russia and Belarus on March 3, signaling the limits of Beijing and Moscow's ties, Radio Free Europe reported. Similarly, Shanghai-based New Development Bank also suspended business with Russia on the same day.

 

On Sunday, several companies including PayPal, American Express canceled their operations in Russia and Belarus due to the ongoing military operation in Ukraine. This comes a day after credit card and payments giants MasterCard and Visa announced that all transactions were banned in Russia. Also, their cards issued by Russian banks will no longer work outside the country. However, economic ties between Russia and China have strengthened in recent years. Bilateral trade has been increased to turn China into Russia's largest trading partner. Both countries have sought more deals in the Chinese yuan, which is outside the US-dollar financial system.

 

Strong relations between Putin and Jinping

 

The strong ties between Moscow and Beijing were reflected in a meeting on February 5, when President Vladimir Putin met Xi Jinping on the sidelines of the Winter Olympics. It was their first face-to-face meeting in more than two years. The China-Russia Comprehensive Partnership of Coordination for a New Round was agreed on 5 June 2019, when Xi visited Russia. This was his eighth visit to Russia since 2013, reflecting the close ties between the two strong peoples.

 

After all, what is China afraid of?

 

Chinese state-owned financial institutions are quietly distancing themselves from Russia's economy, even as China has refused to call Putin's actions on Ukraine an invasion and condemned Western-led sanctions. The move reflects a carefully balanced move on the part of Beijing, as it seeks to strengthen ties with Moscow without openly violating sanctions. Indeed, China fears that its access to key Western export markets and the US dollar-focused international financial system could be threatened.

1 Like 0 Dislike
Previous news Next news
Other news

Kannur University: Case of irregularity in appointment in Kannur University, Governor seeks clarification

Kerala Government and Governor Arif Mohammad Khan once again face to face. The Governor has initi

Vande Bharat: Stones pelted on Vande Bharat in Chhattisgarh, window glass is broken, train started four days ago

According to information, someone pelted stones when the train reached between Durg and Bhilai st

Kanpur Violence: Big action in Kanpur violence case, action against these 4 accused under gangster

Kanpur News: In the case of violence that took place in Kanpur, Uttar Pradesh, last month, the po

Trouble for the makers of Dhurandhar, Major Mohit Sharma's family approaches Delhi High Court

Directed by Aditya Dhar, Dhurandhar's film is just seven days away from release. The film has bee

Sahara Refund: Till now so many people got stuck money in Sahara, 18 lakh registered on refund portal

Sahara Refund Portal Sahara group's investors have now started getting their money back. Today Un

Is Google and YouTube down worldwide? Thousands of users are facing problems, complaining on social media.

On Friday, December 19, 2025, YouTube and Google services experienced widespread outages in sever

IPU: Extended the last date of application for MBA program, now apply online till 30

There is good news for the students who want to enroll in the MBA program of Guru Gobind Singh In

India should first stop Russia-Ukraine conflict, supports PM Modi's talk about war: America

India has taken initiative several times to put an end to the Russia-Ukraine war. Prime Minister

iPhone 14 Pro Camera Issue: Big flaw in the camera of iPhone 14 Pro, Apple said - will fix it soon

iPhone 14 Pro Camera Shaking Issue: Apple has acknowledged that there is a shaking issue in the i

Data Leak: CyberX 9 claims, that Vodafone-Idea's 206 million postpaid customers' data leaked

Cyber ​​security research firm CyberX9 has claimed in its report that the call data records o

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash