Friend China refuses to help Russia over Ukraine

TIL Desk/National/New Delhi/ Despite sharing strong ties with Russian President Vladimir Putin and criticizing the West over the sanctions against Russia, China’s President Xi Jinping has not stepped in to help Moscow.

Radio Free Europe reported that the Asian Infrastructure Investment Bank (AIIB), a Chinese-led development bank, suspended all business with Russia and Belarus on March 3, a possible sign of the limits to Beijing and Moscow’s relationship. Similarly, the Shanghai-based New Development Bank also suspended business with Russia the same day.

Meanwhile, many companies including PayPal, American Express Sunday announced the suspension of their operations in Russia and Belarus over the ongoing military operation in Ukraine. This comes a day after credit card and payment giants Mastercard and Visa announced that they were suspending operations in Russia and that their cards issued by Russian banks will no longer work outside the country.