Economic security/ Neutralizing the sanctions impact

The West’s anti-Russian sanctions may give an impetus to the Russian-Chinese business cooperation, including in the financial sphere, a senior Chinese official told journalists on Friday.

“Russia and China have already become very important trade and economic partners. Both countries have high complementarity in their economic structures, especially in the sphere of energy resources,” said Wang Zhaoxing, a vice chairman of China’s Banking Regulatory Commission.

The sanctions, imposed by the Western countries on Russia amid the Ukrainian crisis, will probably create some “temporary difficulties” for Moscow in the economic sphere, but “they cannot affect the development of the trade and economic cooperation between Russia and China,” he said.

 Western sanctions to boost Russia’s partnership with Beijing - Chinese official