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International relations

China-led AIIB drops Russia as venue for annual gathering

Move to Beijing follows bank's freeze on lending toward Moscow and Belarus

Representatives from the founding members of the Asian Infrastructure Investment Bank attend a signing ceremony in June 2015.   © Kyodo

BEIJING -- The Asian Infrastructure Investment Bank will not hold this year's annual meeting in Russia as planned, in what may be a sign of the China-backed development institution bending to international condemnation of Moscow's invasion of Ukraine.

A virtual meeting will be hosted Oct. 26-27 at AIIB's headquarters in Beijing. Russia had been picked as the venue for this year's meeting during the previous gathering held in October last year.

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