Business Maverick: China-Backed Development Banks Halt Russia Loans Amid Sanctions

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The China-backed Asian Infrastructure Investment Bank halted all businesses with Russia and Belarus amid rising geopolitical tensions, a sign of Beijing’s cautious approach to financial support to Russia amid sanctions.

Thursday that “all activities relating to Russia and Belarus are on hold and under review,” as it strives to do their utmost to safeguard the financial integrity of the bank.

While expressing sympathy and offering support to those who have been adversely impacted by the war, the statement didn’t condemn the war or announce any further measures against the two countries.China was seen as a potential bulwark for Russia, with the nation’s commerce minister saying recently it hopes to keep normal trade with both Russia and Ukraine.

 

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Which institution has sold countless countries to slavery through loans more than the US through the world bank and imf? The ANC must recall and reverse Ramaphosa's policies for starters in enslaving future generations by going to racist US led financial institutions.

Money always talks! China is happy to support Putin until he probably won't be able to repay his loans. It's a lesson to all countries that have taken loans from China

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