China is Russia's best hope to blunt sanctions, but wary

BEIJING (AP) — China is the only friend that might help Russia blunt the impact of economic sanctions over its invasion of Ukraine, but President Xi Jinping’s government is giving no sign it might be willing to risk its own access to U.S. and European markets by doing too much.

Even if Beijing wanted to, its ability to support President Vladimir Putin by importing more Russian gas and other goods is limited.

Relations with Moscow have warmed since Xi took power in 2012, motivated by shared resentment of Washington, but their interests can conflict. While their militaries hold joint exercises, Putin is uneasy about the growing Chinese economic presence in Central Asia and Russia’s Far East.

“China-Russia relations are at the highest level in history, but the two countries are not an alliance,” said Li Xin, an international relations expert at the Shanghai University of Political Science and Law.

In response to the invasion, Washington, Britain, the 27-nation European Union and other Western allies have announced or promised sanctions against Russian banks, officials, business leaders and companies, as well as export controls aimed at starving Russia’s industries and military of high-tech products.

Xi’s government might support Putin within those limits — and Chinese companies might use the situation to pursue better deals — but will balk at openly violating sanctions and being targeted for penalties, experts said.

“China doesn’t want to get so involved that it ends up suffering as a result of its support for Russia,” said Mark Williams, chief Asia economist for Capital Economics.

Chinese trade with Russia rose to $146.9 billion last year, but that is less than one-tenth of China’s total $1.6 trillion in trade with the United States and European Union.

“It all hinges...