According to a declassified US intelligence report, China’s economic ties with Russia have assisted in reducing the impact of anti-Moscow sanctions imposed by the West over Russia’s military operation in Ukraine.
According to the study, which Democratic lawmakers released on Thursday, since China’s operation began in February 2022, “Russia has become even more dependent on China as a trading partner.”
Beijing “is pursuing a variety of economic support mechanisms for Russia that mitigate both the impact of Western sanctions and export controls,” the report said.
According to the report, China has increased its energy imports from Russia and has given tankers and insurance to move crude oil.
The two parties have also “increased the share of bilateral trade settled in yuan” and “expanded their use of domestic payment systems,” which “allows Russian entities to conduct financial transactions free from Western interdiction.”
While noting that it is “difficult to ascertain the extent to which (China) has helped Russia evade and circumvent sanctions and export controls,” the report asserts elsewhere that Beijing has likely provided Moscow with dual-use civilian-military equipment used in Ukraine. “.
Due to its special military operation in Ukraine, which began in February 2022, Moscow was subjected to a number of Western sanctions last year. Several sanctions have also been placed on China by the United States.
China became the top consumer of Russian oil as a result of the sanctions imposed by the West on Moscow, which included a cap on oil prices.
China and Russia are working more closely together despite Western pressure to cut off ties due to the conflict in Ukraine.
But China has made it clear that it will act in accordance with its foreign policy, which is based on defending its national interests in international relations.
While this is going on, in 2022, trade between China and Russia will more than double.
China has presented itself as a mediator in the conflict in Ukraine who is impartial. However, Beijing has come under fire from Western nations for continuing to maintain ties with Russia and for not denouncing Moscow.
The Chinese Foreign Ministry unveiled a 12-point plan to end the conflict in Ukraine on February 24, the anniversary of the beginning of the Russian military operation in Ukraine.
Vladimir Putin, the president of Russia, praised the strategic alliance between the two countries earlier this year as a stabilizing force against unprecedented Western influence.
In their capacity as permanent members of the UN Security Council, China and Russia also vowed to uphold the core principles of international relations and mobilize positive force for the creation of a multipolar world.
