Emmanuel Ochayi
Amidst escalating tensions due to U.S. sanctions on Russia’s Arctic LNG-2 project, China’s Foreign Ministry has strongly advocated for the protection of economic cooperation between China and Russia.
Emphasizing the mutual interests at stake, the ministry’s spokesperson, Mao Ning, asserted that third-party interventions or restrictions should not impede the collaboration between the two nations.
Join our WhatsApp ChannelThe U.S. sanctions, implemented in November as part of a broader punitive stance against Moscow over the conflict in Ukraine, have triggered ramifications for the project’s progress.
READ ALSO: China’s Deadliest Earthquake In Years Claims 148 Lives
Russian controlling shareholder Novatek declared force majeure, citing the impact of these sanctions, which have also affected Chinese stakeholders – CNOOC Ltd and China National Petroleum Corp (CNPC).
Mao Ning reiterated China’s longstanding stance against unilateral sanctions and extraterritorial jurisdiction that lacks a basis in international law.
The Arctic LNG-2 venture, where Chinese companies hold a stake alongside French and Japanese counterparts, was anticipated to commence production by early 2024.
The statement by the Chinese Foreign Ministry seeks to safeguard the project’s continuity and underscores the significance of maintaining uninterrupted economic cooperation between China and Russia amid external pressures.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
