AIIB | China
Beijing: The China-based Asian Infrastructure Investment Bank (AIIB) said it has suspended activities relating to Russia and Belarus until further review, media reports said.
"We the management will do our utmost to safeguard the financial integrity of AIIB, against the backdrop of the evolving economic and financial situation," the bank was quoted as saying by Nikkei Asia.
"Under these circumstances, and in the best interests of the bank, management has decided that all activities relating to Russia and Belarus are on hold and under review," the bank said.
China holds a leading 30% stake and can veto decisions at the development bank, which began operating in January 2016.
Beijing has previously voiced opposition to financial sanctions on Russia imposed by the U.S., the European Union and other governments.
The AIIB may be reevaluating its operations in Russia and Belarus over concerns that these sanctions could disrupt debt payments and other activities there, the newspaper reported.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
