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With a major crackdown on corruption also in progress in China, and Russia hit by sanctions, falling oil prices and a collapsing currency, some joint Russian-Chinese projects may be delayed indefinitely, industry sources and analysts say.

The developments represent a major challenge to President Vladimir Putin's strategy of a pivot to Asia, spurred last year by the imposition of Western sanctions on Moscow for its role in the Ukraine crisis.

"Chinese investors have simply taken a break to see where the ruble is heading because since December all Russian ministerial forecasts have been wrong. I believe this is the main reason why large investment projects have been postponed," said Sergei Sanakoyev, head of the Russian-Chinese Analytical Centre, a Moscow-based think-tank.

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