In a joint statement, both Xi and Putin said there was no “border” between Moscow and Beijing. However, there are indications that Beijing may reconsider its relationship with Moscow. Chinese state-owned Sinopec Group has pulled out of a $ 500 million (80 380 million) deal to sell Russian gas to Sibur in China amid fears it could be sanctioned. One of Sibur’s directors and investors is Gennady Timchenko, a longtime ally of Putin. Mr Timchenko has already been sanctioned by the West since Russia annexed Crimea in 2014. The United Kingdom imposed further sanctions on the Russian billionaire in February following Putin’s decision to deploy forces in the breakaway republics of Donetsk and Luhansk in eastern Ukraine. Sinopec’s decision comes after its participation in a meeting at the Ministry of Foreign Affairs. China National Petroleum Corp (CNPC) and China National Offshore Oil Corp (CNOOC) were also present, as the company’s bosses were asked to evaluate their ties with Russia and to be careful in their business dealings with the country. A Sinopec executive told Reuters: “The companies will strictly follow Beijing’s foreign policy in this crisis. “There is no room for companies to take new investment initiatives.” The cancellation of the investment is a major blow to Putin personally and to the Russian economy. READ MORE: The British are facing a technology crisis as the lockdown in China means “it will not be enough” Joe Biden tried to persuade Beijing to relinquish its support for Moscow during a recent telephone conversation with President Xi Jinping. The US president told reporters last week: “I did not threaten, but I made it clear to him – I made sure he understood the consequences of Russia’s aid. “I pointed out the number of American and foreign companies that left Russia as a result of their barbaric behavior.” The Biden government has pressured China to withdraw its support from Russia, including helping it face Western sanctions and providing military assistance. China has not condemned Russia’s actions in Ukraine, although it has expressed deep concern about the war and Western sanctions, which it considers counterproductive and unilateral.
