Asian Infrastructure Investment Bank has suspended all current and pending business relating to Russia and Belarus following the outbreak of conflict in Ukraine.
The decision by the development bank threatens to strain ties between China and Russia, which are close trading partners but whose relationship has come under scrutiny following Vladimir Putin’s military operation in Ukraine. China is the bank’s largest shareholder.
The Beijing-based bank on Thursday said it would “safeguard its financial integrity” and assess the impact of the Ukraine war on its operations and members’ economies.
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