China reduced to zero investments in the Russian Federation under the "One Belt, One Road" project
China's investment in its global Belt and Road initiative in Russia has dropped to zero for the first time since its inception.
Beijing made no deals with Russian entities under the initiative in the first half of 2022, according to data from the Center for Green Finance and Development at Fudan University in Shanghai.
It is noted that this step signals Beijing's reluctance to fall under sanctions against the background of the war in Ukraine. At the same time, the drop can only be temporary, as there is a "strong interaction" between Russia and China, according to experts.
Despite Russia's war against Ukraine, China has increased its purchases of Russian energy carriers.
In 2021, Russia and China signed agreements under this initiative worth about 2 billion dollars.
China's Belt and Road Initiative is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in nearly 70 countries and international organizations.