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Beijing did not help. Chinese-founded bank puts Russia on hold

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The AIIB is headquartered in Beijing (Photo: AIIB)

The Asian Infrastructure Investment Bank refused to cooperate with the Russian Federation and Belarus due to wars in Ukraine.

Asian Infrastructure Investment Bank (AIIB) has announced that it is suspending and reviewing all operations with Russia and Belarus due to the war in Ukraine. It says in a statement jar.

The Bank emphasized that «monitor the situation” and evaluate its impact on the work of the institution.

«In these circumstances, and in the interests of the bank, management has decided that all operations related to Russia and Belarus will be suspended and reviewed,” the AIIB said.

The Bank’s management emphasized that they would do everything possible to protect the financial integrity of the AIIB against the backdrop of a changing economic and financial situation.

China is the main shareholder of the bank, its share is 29.8%. According to the Russian Ministry of Economic Developmentthe share of the Russian Federation in the bank is 6.5%.

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