AIIB Halts Its Operations with Russia

China-based Asian Infrastructure Investment Bank (AIIB) has decided to suspend all its activities related to Russia and Belarus as a consequence of the war in Ukraine.

According to an AIIB representative, the bank is actively monitoring the situation and evaluating its impact on its operations and on the economies of AIIB members. Under these circumstances, it has been decided that all activities in Russia and Belarus are suspended and under review.

Likewise, the AIIB has expressed its willingness to extend funding flexibly to support AIIB members who have been negatively affected by the war, directly or indirectly. Russia is the third most important member of the AIIB, with 5.97% of the voting rights and 6.7% of the entity's capital, only behind the 26.5% of the votes held by China with 30 .7% of the capital and 7.5% of the voting power of India, with 8.6% of the capital.

(Source: The Paypers)