FT News Briefing China shifts stance on Ukraine
Mar 2, 2022
The Nord Stream 2 pipeline is now reported as insolvent, raising questions about Europe's energy future. Meanwhile, China is redefining its role in the Ukraine conflict, signaling potential mediation after recent talks with Ukraine. This marks a notable shift, with China condemning violence against civilians for the first time. Additionally, cryptocurrency exchanges face pressure to restrict transactions with Russia amid concerns about sanction evasion, highlighting the complexities of financial regulations in turbulent geopolitical waters.
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Nord Stream 2's Significance
- Nord Stream 2's potential demise is significant due to its role in the Russia-Europe energy dynamic.
- It symbolizes a shift in the conflict, potentially impacting energy markets long-term.
China's Shift in Stance
- China's shift in stance on the Ukraine invasion involves condemning the conflict and aiming for a peacemaker role.
- This shift is notable given China's prior support of the Kremlin's narrative.
Cryptocurrency and Sanctions
- Cryptocurrency exchanges face pressure to block Russian transactions, preventing sanctions evasion.
- This situation challenges the decentralized nature of cryptocurrency.