The Asian Infrastructure Investment Bank has decided to put all activities relating to Russia and Belarus “on hold” due to the war in Ukraine, the China-backed institution said on March 3. The announcement comes a day after China’s top banking regulator said the country would keep up normal trade with Russia and Ukraine amid Western sanctions. In a statement published on its website, the Beijing-headquartered bank said its management would do utmost to “safeguard the financial integrity, against the backdrop of the evolving economic and financial situation.” China is the largest shareholder of the multilateral lender, with a stake of over 30 percent, according to the official website. Given that it holds 26.5 percent of voting rights, China has veto power over major decisions, which requires a 75 percent majority. “Under these circumstances, and in the best interests of the Bank, Management has decided that all activities relating to Russia …