Chinese investment in the Russian economy have increased as Western sanctions are pushing Beijing closer to Moscow, says a new report released by the U.S. Department of Defense, according to Russian news agency Prime.
The 136-page document dedicated to China’s armed forces issues Washington’s concerns over Beijing’s growing clout, including its economic strength, Russia Business Today writes.
The Pentagon also mentions Russia, with which China partnered to “mitigate U.S. pressure tactics.” It also reminds that Moscow and Beijing often make a joint front against U.S. 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.
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, according to official data. Russia’s President Vladimir Putin said in April that Sino-Russian cooperation has reached a “historically high level,” and could serve an example for others.