The China-led Asian Infrastructure Investment Bank has suspended all business with Russia and Belarus, in light of “the evolving economic and financial situation”. Al Jazeera reports that the multilateral development bank, which has 105 members worldwide, did not elaborate on the reason for its decision, but extended “its thoughts and sympathy to everyone affected”. The announcement comes after several Chinese state-owned financial institutions, including the Bank of China, ceased financing for deals involving Russian commodities but Beijing itself has declined to condemn Moscow’s invasion of Ukraine, abstaining from a United Nations resolution calling on Putin to withdraw his forces, and expressed its opposition to “all illegal unilateral sanctions”.