China and Russia’s trade relationship has become more complicated since the war started more than three weeks ago, raising questions about the future flow of energy, metals and crops between the two powerhouses.
Before the war in Ukraine, Russia’s importance to China as a supplier of raw materials was only growing. That was solidified in the "no-limits” friendship announced between the two nations ahead of the Winter Olympics in Beijing, which was celebrated with the signing of new deals to furnish China with Russian oil, gas and wheat.
Immediately after the invasion, Chinese officials said they disagreed with unilateral sanctions and would continue normal trade relations with Russia. But since then banks have paused financing purchases and traders are grappling with logistics, while more recently China’s foreign minister said Beijing doesn’t want to be affected by sanctions.
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