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China is poised to launch a bailout on Russia as Vladimir Putin’s relations with the West take a toll, and the international community warns of tougher sanctions on Moscow.
The Russian head of state ordered the attack on Ukraine and urged Kiev to lay down its arms, to avoid what he said were civilian casualties, just a day after the West imposed new sanctions on Russia. The Financial Times says China could help Moscow with those sanctions, mainly through raw material deals and bank loans, while seeking to avoid harming its economic and financial interests.
“The level of Chinese support for Russian actions could be a weighty factor in this emerging crisis,” says economist Tom Rafferty. Since Russia concentrated tens of thousands near the border with Ukraine, Beijing has sought to strike a balance between Chinese President Xi Jinping’s support for Putin and China’s interest in regional stability. In the hours following the start of the occupation, Zhang Jun, Beijing’s envoy to the UN, said the door to a “peaceful solution” was not yet fully closed and urged all parties to exercise restraint.
However, the day before, China reaffirmed its opposition to what it called “unilateral unilateral sanctions.” “Since 2011, the United States has imposed more than 100 sanctions on Russia,” Hua Chunying, a foreign ministry spokeswoman, told reporters in Beijing. But have those measures resolved anything to date? “Is the world a better place because of those sanctions and will the Ukraine issue be resolved only through them?” She asked.
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