China hasn’t invested in new infrastructure projects in Russia since the war in Ukraine began, despite huge sums of money spent in the past, a report has revealed.
Under the Belt and Road Initiative (BRI), Beijing has invested nearly a trillion US dollars ($932 billion, or £774billion) in construction in countries including Russia since 2013.
But since the war began, Chinese engagement in new investments under the scheme in Russia dropped by 100 percent, according to a brief released by the Green Finance & Development Center (GFDC) of the Fudan University in Shanghai.
Sri Lanka and Egypt, both close allies of Putin, also saw zero engagement from China, while investments in Pakistan dropped by about 56 percent, the data shows.
Overall, Chinese engagement through financial investments and contractual cooperation for the first half of 2022 in the 147 countries of the BRI was about $28.4billion (£23.6 billion).
Shortly before Russia’s invasion of Ukraine, Beijing and Moscow announced a “no limits” partnership.
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