This country got a whopping $169.3 billion from China in 20 years, here's the reason

Russia has emerged as the biggest recipient of projects and loans as well as monetary assistance from China under the controversial Belt and Road Initiative. The Asian communist-ruled country has been shocking the world for more than twenty years with its economic strides and stupendous economic growth rate. Russia-China cooperation has soared to such a level that it has set the alarm bell ringing and the Western world, including the US and Europe, are scared. It has deepened global concern over what a partnership between these two powerhouses could cause. Western experts apprehend that China could be taking advantage of Russia's valuable natural resources.

Does China eye Russian energy resources?

According to a rough estimate, Russia's natural resources are valued at $75 trillion. Moscow could be using these natural resources, which include natural gas, oil, and coal, to get financial backing from China. Despite the threat of Western economic sanctions, particularly after the beginning of the Russia-Ukraine War, China's Xi Jinping and Russia's Vladimir Putin have continuously built their ties.

What is BRI?

The Belt and Road Initiative or BRI was previously known as the One Belt One Road or OBOR. Dubbed the New Silk Road, BRI is a global infrastructure development strategy adopted by the Chinese government in 2013. China has invested billions of dollars in more than 150 countries and international organizations. It consists of six urban development land corridors linked by road, rail, energy, and digital infrastructure and the Maritime Silk Road linked by the development of ports. According to the MSN, the BRI has contributed to $2.8 trillion in trade between China and member countries in 2021 and $1 trillion in construction projects and investments in BRI-associated countries.

FAQs:

What is the Boarder Road Initiative or BRI?
Boarder Road Initiative or BRI is a massive investment plan under which China has invested billions of dollars in Asia, Europe, Africa, and Latin America. About 150 countries have joined the BRI.

Why is the Western world scared of Russia-China economic cooperation?
Russia's natural resources are valued at an estimated $75 trillion. The Western world is scared that Moscow could be using these natural resources, which include natural gas, oil, and coal, to get financial backing from China.