Financial TimesFinancial Times

The rising costs of China’s friendship with Russia

By Sun Yu

10 Mar 2022 · 9 min read

When the Russian invasion of Ukraine started two weeks ago, Jane Yan, a senior executive at a machine parts maker in eastern China, said she was not too worried about the impact. After all, buyers in Russia and Ukraine accounted for less than 5 per cent of the company’s overseas sales last year.

But as the full ferocity of the Russian onslaught started to become apparent, the outlook shifted dramatically. Important clients in countries such as Poland and Germany cancelled orders with the Zhejiang-based company.

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