This week China began distancing from Putin. It culminated on Thursday when two China-based banks stopped doing business with Russia and with Belarus. Records show that Russia has shareholder interest in both the ND Bank and the Asian Infrastructure Investment Bank (AAIB).
This is the closest China has come to levying sanctions on Russia for its invasion of Ukraine. But in carefully worded statements throughout the week, China continues to push back ever-so-gently on Russia.
On Monday, Chinese Foreign spokesperson Wang Wenbin told reporters that China and Russia were only “comprehensive strategic partners of coordination.” This is very different from the “better than allies” announcement made in 2021.
On Tuesday, Chinese Foreign Minister Wang Yi Wang told his Ukrainian counterpart, Dmytro Kuleba, that China “regrets” the Russia-Ukraine conflict. And a record of the call and wording was published in the Chinese foreign ministry readout.
AAIB public distancing from Putin
On Thursday Beijing-based AAIB paused investments with Russia and Belarus.
