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5 May, 2019 12:57

US sanctions boosted Chinese investment in Russia, Pentagon admits

US sanctions boosted Chinese investment in Russia, Pentagon admits

The Russian economy has enjoyed increased Chinese investment as Western sanctions have pushed Beijing closer to Moscow, according to a report released by the US Department of Defense.

Despite the 136-page document dedicated to China's armed forces and Washington's concerns over Beijing's growing clout, including its economic strength, the US military did not forget to mention Russia, with which China partnered to “mitigate US pressure tactics.” It also reminded that Moscow and Beijing often make a joint front against US propositions at the United Nations Security Council (UNSC) as they both “share a preference for a multipolar world order.”

“In the wake of Western sanctions against Russia, China has increased investment in Russia's economy,” the Pentagon report states.

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The document also mentions China's massive Belt and Road Initiative (BRI), formerly known as One Belt One Road (OBOR), saying that the country may use the megaproject to create “military advantages.” It also claims that the initiative is intended to shape other countries' interests to “align with China's” as well as silence confrontation or criticism against it.

The Russian-Chinese cooperation has been rapidly growing in recent years. Last year trade turnover between the two countries hit a record $108 billion, demonstrating a growth of around 25 percent, Russian President Vladimir Putin announced in April. He also stressed that Sino-Russian cooperation has reached a “historically high level,” and could serve an example for others.

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