The Chinese-controlled Asian Investment Bank halted “all activities related to Russia and Belarus”

The Asian Infrastructure Investment Bank (AIIB) said on Thursday that it has left suspense and under review all activities related to Russia and Belarus in the wake of the current conflict in Ukraine.

The Beijing-based AIIB said in a statement that its leadership would do everything possible to safeguard the financial integrity of the AIIBin the context of the evolution of the economic and financial situation.

“In these circumstances, and in the best interest of the Bank, management has decided that all activities related to Russia and Belarus are placed on hold and under review.”, says the statement.

China, an ally of Russia in many areas, is the largest shareholder in the development bank, with a 26.5% of their voting power.

(With information from Reuters)

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