How will the Russia-Ukraine conflict impact China's economic interests in Ukraine?

WION Web Team
New Delhi, India Updated: Mar 02, 2022, 09:17 PM(IST)

A view shows an ammunition case in a street in Kharkiv, Ukraine, March 1, 2022. Photograph:( Reuters )

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The India-based news agency ANI reported that China's business and economic interests have grown in Ukraine in recent years 

The global economy has been severely impacted because of the ongoing Russia-Ukraine conflict. Some of the countries have taken a stringent stance on the crisis by slapping multiple economic sanctions on Moscow after Russian President Vladimir Putin announced "military operations" in Ukraine. 

The crisis has led to a geopolitical shift as several countries have taken a neutral stance and a few have allied with Russia. 

Meanwhile, if we talk about China, it has become a close ally with Russia in recent years, including as a trading partner. 

A relationship is opportunistic but might face risks as Russia reels from tough economic sanctions led by the West. 

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That's about the China and Russia ties, but what about China and Ukraine ties? 

The India-based news agency ANI reported that China's business and economic interests have grown in Ukraine in recent years. 

ANI cited local reports that many A-share listed companies have business layouts in Ukraine as in terms of different industries, Chinese wind power companies have been more active in investing in Ukraine in recent years. 

In the agriculture, grain and oil sectors, many companies have subsidiaries or product sales in Ukraine. 

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In addition, listed companies such as Beinken Energy, Xinjiang Communications Construction Group and Weldatlantic Group also have business operations or product sales in Ukraine, a report added. 

Due to its strategic location, Ukraine is very important for China, it's a gateway for Beijing in Europe owing to the free trade deal between Ukraine and the European Union and abundant supply of mineral and agricultural resources. 

Ukraine is an important hub within the Belt and Road Initiative, Chinese President Xi Jinping's signature infrastructure and foreign policy project, which Kyiv joined in 2017. 

However, amid the ongoing chaos, the future of all all the ties are in jeopardy. 

More than 2,500 Chinese nationals in Ukraine have been moved out of the country, foreign ministry spokesman Wang Wenbin told a regular media briefing on Wednesday (March 2). 

China has said previously that there were about 6,000 Chinese citizens living in the country. 

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