China-Backed Infrastructure Banks Halt Lending to Russia, Belarus Over War in Ukraine

China-Backed Infrastructure Banks Halt Lending to Russia, Belarus Over War in Ukraine
General view of the Asian Infrastructure Investment Bank (AIIB) building in Beijing on Jan. 13, 2016. VCG via Getty Images
Updated:
0:00

The Asian Infrastructure Investment Bank has decided to put all activities relating to Russia and Belarus “on hold” due to the war in Ukraine, the China-backed institution said on March 3.

The announcement comes a day after China’s top banking regulator said the country would keep up normal trade with Russia and Ukraine amid Western sanctions.

Related Topics