- August 7, 2023
- Posted by: admin
- Category: Daily News
- China is likely hurting economically from the collapse of the Black Sea Grain Initiative, but experts say Beijing appears content not to pressure Russia to return to the deal, which allowed both Russia and Ukraine to ship agricultural products worldwide despite the war.
- China was the largest single recipient of these exports under the initiative, according to United Nations figures, taking 7.9 million tonnes, or nearly one-quarter of Ukrainian shipments.
- “Although China is one of the main beneficiaries of the Black Sea Grain Initiative, Beijing chose to remain idle and not to get involved into pushing Russia to continue with the deal,” said the source. “They do have leverage, unlike many countries in the West, but they don’t want to use it to end the war. The longer it lingers, the better for China. The West and Russia exhaust their resources, while China takes all the cream.”