How Much Can China Help Russia Amid Sanctions?

A man walks past a store advertising cargo shipping to Russia and other countries, along a street in Beijing on March 4, 2022. Hector Retamal/AFP via Getty Images

News Analysis

As sanctions cripple the Russian economy, officials in Moscow are likely to seek ways to prop it up. With the Chinese regime refusing to participate in Western sanctions and reiterating its “rock solid” friendship with Russia, it may present an avenue for Russia to circumvent the punitive measures.

How Have Sanctions Affected Russia?

Sanctions from the West have severely inhibited Russia’s ability to participate in the global financial system. As a result, the ruble, Russia’s currency, has crashed and the Moscow Stock Exchange remains closed as markets internalize the fallout from the sanctions.