An isolated Russia could be driven further into China’s arms economically in the wake of sanctions imposed over the invasion of Ukraine, but Beijing appears wary of offering a warm embrace.
Western countries have hit Russia’s economy hard including by closing airspace, freezing assets and excluding seven banks from the SWIFT interbank messaging network.
The impact is expected to be wide-ranging and impede Moscow’s ability to shore up the beleaguered ruble and purchase imports.
China has avoided openly condemning Russia’s attack and has the financial strength to soften the blow against its giant neighbour.
But analysts say Beijing will likely tread carefully to avoid violating the most severe international restrictions.
