China to join anti-Russian sanctions?

Chinese banks forced Russian companies and individuals to close their accounts and transfer funds to other places. They also refused to give loans to Russian entities, executive director of the Russia-ASEAN Business Council, Viktor Tarusin said.

Photo: Source: Pravda.Ru photo archive

According to him, because of relations with American partners, Chinese banks actually joined Western sanctions against Russia. Only ExIm Bank and China Development Bank maintain their ties with Russian clients.

China's investments in the Russian economy in 2015 amounted to 794 million dollars, which accounts for 0.7% of the total volume of China's investments abroad (116 billion dollars). Supplies  of liquefied natural gas significantly decreased in January-September of 2015: by 51.3% in absolute terms and by 71.5% in monetary terms.

The turnover been Russia and China in 2015 may thus decline by 30 percent.

According to experts, there are two issues in the Russian-Chinese cooperation. The Russians do not understand the Chinese mentality, while Chinese businessmen tend to dominate in business.

Pravda.Ru

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