Advertisement
Ukraine crisis: China walks ‘diplomatic tightrope’, but impact of sanctions on Russia seen as ‘limited’ for bilateral trade
- China has called for restraint from all sides and opposed unilateral sanctions, while saying it will continue trade with both Russia and Ukraine
- Analysts say China is likely to support Russia financially and through trade, though if the situation escalates Beijing may ‘rethink its position’
Reading Time:3 minutes
Why you can trust SCMP
17
China will have to carefully balance economic support for Russia with its own interests given the likelihood of further sanctions on Moscow for its invasion of Ukraine, though experts say larger Chinese firms and the government are unlikely to risk rupturing relations completely with the West.
Washington has frozen Russian assets in the United States, sanctioned Russian banks and put hi-tech exports to the country on hold. The package of sanctions does not include cutting Russian access to the swift financial messaging system.
China has so far called for restraint from all sides and opposed unilateral sanctions, while saying it will continue trading with both Russia and Ukraine.
Advertisement
Amid the unfolding crisis, Beijing’s actions are being closely watched by the international community and global markets.
China will support Russia financially and through trade as much as any Western sanctions allow
“China will support Russia financially and through trade as much as any Western sanctions allow,” said Capital Economics’ chief Asia economist Mark Williams.
Advertisement
Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x