Russia in the first half of the year did not receive investment in China under the One Belt, One Road project
In the first half of 2022, China announced investments in Russia as part of the One Belt, One Road global development and cooperation project. Such cases came from the experts of the Center for Green Finance and Development at Shanghai Fudan University, informs Bloomberg agency.
There was no agreement of any new party on investments in Russian projects. A similar case occurred with the launch of the Chinese project in 2013. In 2021, China and Russia paid an amount of about $ 2 billion, economy newspaper Financial Times.
In addition, in the first six months of this year, China has not signed new agreements with Egypt and Sri Lanka, where the political crisis has recently erupted. Saudi Arabia became the main recipient of investments in the amount of $5.5 billion.
At the same time, in general, the volume of applications under the One Belt, One Road initiatives decreased by 3.5% compared to the first half of 2021. Decrease compared to the first half of 2019 and eliminated by 40%.
Director Center for Green Finance and Development Christoph Nedopil Wang the premise that China’s decision to refrain from infiltrating Russia could be halted by secondary attacks from Western countries. At the same time, according to the expert, the fall may be temporary, between the Russian Federation and China “definitely [имеется] strong interaction”. In particular, Chinese purchases of Russian energy carriers have increased.
The One Belt, One Road project was launched by the President of the People’s Republic of China Xi Jinping in September 2013. The initiative aims to create new trade routes, transport and economic corridors. The Chinese authorities are counting on the longest economic corridor in the world.
The relations of the Western countries with the sharp degradation of Russia deteriorated sharply after the start of the economic operation in Ukraine, initiated by the President of the Russian Federation. Vladimir Putin.