Italy exits China's Belt and Road Initiative

Italy has withdrawn from the Chinese Belt and Road initiative, a corresponding notification was sent through diplomatic channels to Beijing, the Corriere della Sera newspaper reports.

This decision was made after several weeks of confidential negotiations and “some diplomatic misunderstanding” per the agreements reached, the newspaper says.

The decision to leave China’s initiative was not publicly announced, the Corriere della Sera newspaper clarifies. The paper also states that despite such a decision, Rome expressed its commitment to maintaining and strengthening the strategic partnership with Beijing.

As the newspaper recalls, Italy was the only G7 state that joined the Belt and Road Initiative, without receiving major economic benefits, but “with many undesirable political consequences”.