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China has not financed any new infrastructure projects in Russia for months as Beijing focuses on preventing a financial crisis in the country.
No money from China’s Belt and Road Initiative (BRI) went to new projects in Russia, Sri Lanka or Egypt during the first half of 2022. All countries had previously been major recipients of spending.
China’s lack of engagement with Russia suggests that Chinese businesses may fear falling victim to secondary sanctions imposed on Moscow over its invasion of Ukraine.
The lack of investment comes despite the fact that the pair insisted that their friendship “had no limits” shortly before the start of the war.
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