The state-owned Sinopec group halted plans to trade Russian gas in China after realizing that a senior Russian Sibur executive was a longtime ally of Vladimir Putin. Gennady Timchenko, an investor and member of Sibur’s board, has already been sanctioned by the West and is linked to other billionaires with ties to the Russian president, according to Reuters. The move marks a sharpening in China’s policy toward Russia amid the invasion, which has kept normal trade amid a series of Western sanctions. China has leaned toward Russia in the conflict, refusing to cite its actions and backing its grievances over NATO’s eastward expansion. However, the Chinese government is said to be concerned about the sanctions itself and encourages companies to be careful when dealing with Russia. Since the invasion on February 24, China’s largest energy companies have been working to assess the impact on their multibillion-dollar investments in Russia.
