Italy to withdraw from China's Belt and Road initiative: Report

Italian Prime Minister Giorgia Meloni has privately informed Chinese Premier Li Qiang of her country's intention to withdraw from Beijing's Belt and Road Initiative (BRI), Italian media reported, per Reuters. The development took place on Saturday during a meeting of the two leaders on the sidelines of the G20 Summit in New Delhi. Italy's exit could significantly impact China's signature infrastructure project and relations with Europe. Notably, Italy is the only G7 nation to have signed up for the BRI.