Some Chinese edge away from Russia in complex operating conditions

RUSSIA / FSU POLITICS - In Brief 16 Apr 2022 by Alex Teddy
Lifan, the Chinese motor manufacturer, has suspended sales in Russia. Lifan was the largest Chinese car brand sold in Russia in 2014-18. It seems that Lifan does not wish to operate in Russia and is not registering more vehicles there. Lifan's hotline is not working and it is not updating its social media.It has been forecast that as EU, US and Japanese motors were no longer being sold, the Chinese would fill the void. China is not buying more Russian energy now than in February 2022. China's need for energy is limited due to rising coronavirus and local lockdowns. Beijing presumably expected Russia to succeed quickly in Ukraine and present the world with fait accompli. Instead, the Russian campaign has stagnated, and sanctions have hit the Western economies, which has indirectly hurt China.In March 2022 Sinopec Group ended talks on a large-scale petrochemical investment and gas marketing venture in Russia. The company is Chinese state owned. It is Asia's largest oil refiner and it is presumably nervous of more engagement with Russia. There is no doubt that the company takes orders from the government. China has denounced sanctions against Russia. However, it abstains in most UN votes on Ukraine.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2025 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.