Sinopec Group, one of the world's largest natural gas, oil refinery and petrochemical companies belonging to the Chinese state, suspended talks on the investment of petrochemical and natural gas facility in Russia.
It was stated that the decision of China, Russia's most important diplomatic partner, to stop the investment, was taken after the Western countries announced unexpectedly heavy sanctions.
It was known that the company had been planning to invest 500 million dollars for a while and was holding talks with the Sibur company on the subject. According to the news of Reuters, based on its sources, after the Ukraine war, the Chinese Ministry of Foreign Affairs warned the authorities of the country's 3 giant energy companies to review their investments and suspended its investment decision after it was revealed that Gennady Timchenko, one of the sanctioned names, had a minority stake in Sibur. specified.
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