China Reportedly Limits Insurance for Exports to Russia Amidst Growing Tensions
Sinosure, a Chinese state-owned export insurance company, has reportedly stopped cooperating with Russian entrepreneurs, citing internal policies and concerns over the nature of exported goods. This decision comes amidst a surge in trade between Russia and China, with Beijing acting as Moscow’s economic lifeline. Sinosure’s actions appear to mirror those of Chinese banks, refusing to insure exports of goods that align with a blacklist maintained by the Bank of China. This move follows China’s tightening of export controls on military and dual-use products, reflecting Beijing’s careful balancing act of maintaining economic ties with Russia while avoiding direct involvement in the conflict.
John Q. Hosedrinker